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BHP Billiton gas production up
BHP Billiton, the country’s fourth largest natural gas producer (after BP, BG and EOG in that order) yesterday said in a release on the London Stock Exchange that its natural gas production in T&T increased by nearly 2 billion cubic feet (bcf) in the first six months of 2014.
The Australian company’s year-to-date production for the period ended June 30 was 38 bcf this year versus 36.3 bcf last year. The local unit’s gas production made up for the decline in oil production, which fell from 1.33 million barrels of oil equivalent (MMboe) in the first half of 2013 to 1.17 MMboe for the same period in 2014.
Globally, the company reported that “strong operating performance delivered a nine per cent increase in group production with annual records achieved across 12 operations and four commodities.” Worldwide, the company’s petroleum production increased by four per cent to a record 246 MMboe with an 18 per cent increase in liquids volumes underpinned by significant growth at Onshore US and Atlantis.
Western Australia Iron Ore achieved a 14th consecutive annual production record as volumes increased to 225 metric tonnes (Mt), the company said, “significantly exceeding initial full-year guidance. We now expect production of 245 Mt from the Pilbara in the 2015 financial year.”
Metallurgical coal production of 45 Mt exceeded full-year guidance as Queensland Coal achieved record production and sales volumes, the release said. Copper production increased to 1.7 Mt as an improvement in mill throughput and concentrator utilisation offset grade decline at a number of operations, it said. BHP Billiton said it completed six major projects “and another two projects achieved first production, including the Caval Ridge coal mine which was completed ahead of schedule and under budget in the June 2014 quarter.”