BHP Group Approves $800 Million Capital Expenditure For Oil Projects in U.S., Mexico
August 05 2021 - 10:15AM
Dow Jones News
By Sabela Ojea
BHP Group PLC said Thursday that it has approved a capital
expenditure of $544 million to execute an oil project in the U.S.
Gulf of Mexico, and a second capital expenditure of $258 million to
move an oil project in Mexico into the front end engineering design
(FEED) phase.
The Anglo-Australian multinational miner said that production at
the Shenzi North oil project, in the Gulf of Mexico, is expected to
begin in 2024. BHP holds a 72% interest in Shenzi North. Repsol
S.A. holds the remaining 28% working interest.
Regarding the oil project in Mexico, called Trion, in which it
holds a 60% interest, the company said that the focus of the
studies will be on completion of the engineering, commercial
arrangements and execution planning needed to progress to a final
investment decision from mid-2022.
"Both Shenzi North and Trion are strong growth assets for our
business, providing attractive returns from relatively low carbon
intensity resources," said Geraldine Slattery, president BHP
petroleum.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 05, 2021 10:14 ET (14:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Repsol (QX) (USOTC:REPYY)
Historical Stock Chart
From Jul 2024 to Aug 2024
Repsol (QX) (USOTC:REPYY)
Historical Stock Chart
From Aug 2023 to Aug 2024