BHP Billiton to invest $2.2 billion in Mad Dog Phase 2
BHP Billiton Ltd. reported that its board has approved expenditure of
$2.2 billion for its share of the development of the Mad Dog Phase 2
project in the Gulf of Mexico.
BHP Billiton Ltd. reported that its board has approved expenditure of $2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico.
BHP Billiton holds 23.9% participating interest in Mad Dog field. Operator BP PLC holds 60.5% participating interest, and Chevron USA Inc. unit Unocal Corp. holds the remaining 15.6%. During fourth-quarter 2016, BP sanctioned the Mad Dog Phase 2 project (OGJ Online, Dec. 1, 2016).
Mad Dog Phase 2, in the Green Canyon area in the deepwater gulf, is a southern and southwestern extension of existing Mad Dog field. The project includes a floating production facility with the capacity to produce as much as 140,000 gross b/d of oil from as many as 14 production wells. Production is expected to begin in the 2022 financial year.