BHP Starts Pyrenees Oil Production

28 February 2010 (Last Updated February 28th, 2010 18:30)

Australia's largest oil and gas producer BHP Billiton has started oil production on schedule from its A$1.7bn ($1.07bn) Pyrenees project, offshore Western Australia. The Pyrenees project comprises the Crosby, Ravensworth and Stickle fields, which were discovered in the WA-12-R permit of

Australia's largest oil and gas producer BHP Billiton has started oil production on schedule from its A$1.7bn ($1.07bn) Pyrenees project, offshore Western Australia.

The Pyrenees project comprises the Crosby, Ravensworth and Stickle fields, which were discovered in the WA-12-R permit off Western Australia in July 2003. They have total estimated recoverable oil reserves of between 80-120 million barrels.

The project, approved for development in 2007, is expected to produce 96,000bpd of oil at its peak, processed through an FPSO.

BHP said in January it is on target for 10% annual growth in petroleum output this year.

The firm's petroleum output in the first half rose 17% to 79.6 million barrels of oil equivalent.