BHP Billiton Energy Invests in Algeria, in an Advisory by Industrialinfo.com

    HOUSTON--Oct. 23, 2001--Researched by Industrialinfo.com (Industrial Information Resources, Inc., Houston, Texas). BHP Billiton Limited (Melbourne Australia) has pledged $620 million in energy sector developments in Algeria. The Ohanet gas project will require an investment of $430 million form BHP Billiton. BHP Billiton holds a 45% interest in the project with Australia based Woodside Petroleum holding 15% and Algerian state oil company Sonatrach and other partners the balance. The total investment in the Ohanet gas project will be $1 billion. Reserve estimates are over 3.2 trillion cubic feet of pipeline quality gas, 97 million barrels of condensate, and 115 million barrels of liquid natural gas. First production is expected in 2004.
    The ROD oilfield will need $190 million from BHP Billiton for the development of oil accumulations in the Berkine Basin region of the Sahara Desert, 800km south of Algiers. With estimated reserves of 300 million barrels of oil equivalent, the ROD field extends to blocks operated by Agip and Sonatrach. First production is expected in the first half of 2003.
    BHP Billiton is a global leader in the natural resources industry. Formed from a merger between BHP and Billiton, which was finalized earlier this year, BHP Billiton is a world leader in metals, minerals, mining and petroleum development.
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