BHP's Q1 Gas Production Drops
Anglo-Australian multinational BHP October 17 said its natural gas production during the three months to September 30 (Q1 2020) decreased 11% year on year to 100bn ft3.
The company said the drop is because of “a decrease in tax barrels at Trinidad and Tobago in accordance with the terms of our production sharing contract, planned maintenance at North West Shelf and natural field decline across the portfolio.” Output was, however, up 3% quarter on quarter.
BHP said the Bass Strait West Barracouta project, offshore Victoria, is tracking to plan and is expected to achieve the first production in the 2021 calendar year.
Commenting on the sale of the Minerva gas plant, BHP said it is subject to customary closing conditions and is expected to close during Q2 2020. Last month, Minerva gas field reached end-of-field life and production ceased at the Minerva gas plant.