The world’s largest diversified resources company achieved 355.69 billion cubic feet of gas output – 1 % higher than in 2005-06 – thanks to record production at the North West Shelf Project.
This result was also attributed to successful development drilling, higher seasonal gas demand in Australia and improving its facilities to offset natural field decline.
In the three months to June, the group’s petroleum division produced 14.46 million barrels of oil equivalent for the three months to June, down 1% from a year ago, and taking full-year output to 56.72 million barrels, unchanged from a year earlier.
But BHP’s quarterly petroleum output was higher compared to the previous three-month period.
“Production was higher than the March 2007 quarter due to improved operational uptime and successful development drilling, which offset natural field decline,” it said.
“Stronger seasonal gas demand also increased condensate production.
“Record quarterly performance from Bass Strait led to a 10% increase versus the March quarter production.”
Meanwhile in a separate exploration and development report, BHP said all of its seven petroleum projects are on budget and schedule, with the exception of the Atlantis South development, in the Gulf of Mexico, which is having a budget review.
At Atlantis, seven development wells are now complete and drilling has started on an eighth well.
In February last year, the company approved a revised budget of $US1.1 billion ($A1.45 billion) for Atlantis, operated by BP.
But by October, BHP warned the costs were likely to blow out by at least a further 30%.