BHP Billiton Achieves Record Production in Petroleum

BHP Billiton celebrated record production performance thanks to new projects, stated a half-year production report released Jan. 23. Total production for the half year and quarter was higher than all comparable periods.

BHP Billiton attributed the success to the production startup of Atlantis and Genghis Khan in the Gulf of Mexico and Stybarrow offshore Australia.

"Continuing ramp up of production from these projects and future expansions will enhance our net long energy position at a time of historically high energy prices," the report read. "A steady increase in the total production profile is expected in the second half of the 2008 financial year due to the contribution of high margin output from these projects, all located in fiscally stable regimes."

Crude oil, condensate, and liquid natural gas production rose 9% in the fourth quarter of 2007 as compared to the same quarter of the previous year.

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