BHP joins supermajors in Atlantic

BHP has successfully bid for two exploration blocks in eastern Canada’s offshore Orphan Basin where it will join Chevron Corporation and Shell in the frontier Atlantic Ocean exploration province. 

BHP joins supermajors in Atlantic BHP joins supermajors in Atlantic BHP joins supermajors in Atlantic BHP joins supermajors in Atlantic BHP joins supermajors in Atlantic

BHP has expanded its exploration exposure to remote Canadian waters 

 
The basin spans 160,000sq.km and has only seen seven wells drilled, between 1974 and 1985.
 
It is adjacent to the Jeanne D'Arc Basin that is producing 400,000 barrels per day from three fields. 
 
The Newfoundland and Labrador Offshore Petroleum Board awarded 100% exploration rights and operatorship for Blocks 8 and 12 with BHP president operations petroleum Steve Pastor saying it was an exciting opportunity for the company to explore for world class assets in the prospective region. 
 
Its full bid of US$625 million covers drilling and seismic work required by the exploration work program as part of the license agreement over a six year term, with its minimum commit...

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