BHP Billiton is to spend $4.5bn next year on developing shale gas in the US.
The firm said that it would then spend approximately $5.5bn a year by 2015, and around $6.5bn a year in 2020.
These investments are part of BHP’s plan to spend $80m over the next five years on increasing production across its mining and petroleum businesses.
BHP is expected to reach a shale gas production capacity of 545 billion cubic feet equivalent in the US for the financial year 2012, reports Reuters.
Earlier this year, the firm acquired Petrohawk Energy and its shale gas assets from Chesapeake Energy for $17bn.
