Bhp Group Ltd · ASX:BHP

Bhp — BHP Billiton — Barclays CEO Energy and Power Conference 2009

34 slides from Bhp's conference presentation, Sep 10, 2009

1. Slide 1: BHP Billiton Petroleum

   BHP Billiton Petroleum Barclays CEO Energy and Power Conference J. Michael Yeager Chief Executive – Petroleum September 10, 2009

2. Slide 2: Disclaimer

   Disclaimer The views expressed in this presentation are based on information derived from publicly available sources that has not been independently verified. No representation, warranty or undertaking, express or implied, is made or given as to the fairness, accuracy, completeness or reliability of

3. Slide 3: Agenda

   Agenda ƒ BHP Billiton Overview ƒ 2009 Petroleum Results ƒ Project Delivery ƒ Status of Discoveries ƒ Growth Options Barclays CEO Energy & Power Conference, September 2009 , New York Slide 3

4. Slide 4: Diversified Resource Company

   Diversified Resource Company Steel Making Non-Ferrous Petroleum Materials Products ƒ Iron Ore ƒ Copper ƒ Oil ƒ Metallurgical Coal ƒ Aluminium ƒ Natural Gas ƒ Manganese ƒ Nickel ƒ LNG ƒ Energy Coal ƒ Diamonds ƒ NGL ƒ Uranium Barclays CEO Energy & Power Conference, September 2009 , New York Slide 4

5. Slide 5: BHP Billiton Financial Highlights

   BHP Billiton Financial Highlights Year Ended June (US$m) 2009 2008 % Change Revenue 50,211 59,473 (15.6) Capital Spend 9,492 7,558 25.6 Underlying EBIT 18,214 24,282 (25.0) Attributable profit (excluding exceptionals) 10,722 15,368 (30.2) Net operating cash flow 18,863 17,817 5.9 Barclays CEO Energy

6. Slide 6: BHP Billiton Portfolio Performance

   BHP Billiton Portfolio Performance Underlying EBIT Underlying EBIT Margin(a) (FY2009, US$bn) (FY2009) 20 $18.2bn Petroleum 58 $4.1bn Petroleum 31 17 Energy Energy Coal (30%) Energy Coal Iron Ore 61 14 Manganese 55 11 58 Iron Ore Metallurgical Coal Aluminium 6 8 Steelmaking Materials Manganese (67%)

7. Slide 7: Petroleum is a Major Part of Project Pipeline

   Petroleum is a Major Part of Project Pipeline Future Options(a) Definition Execution Atlantis Atlantis NWS NWS N2 Newcastle WA WA Iron Iron Ore Ore Yeelerie Yeelerie N2 CWLH CWLH RGP Thebe Thebe Browse Browse Third Port Exp RGP 44 Saraji Saraji Exp Exp Potash Potash -- Other Other LNG LNG HPX3 Klips

8. Slide 8: Commitment. Delivered.

   Commitment. Delivered. ƒ BHP Billiton Overview ƒ 2009 Petroleum Results ƒ Project Delivery ƒ Status of Discoveries ƒ Growth Options Barclays CEO Energy & Power Conference, September 2009 , New York Slide 8

9. Slide 9: Unique Strategy & Advantages

   Unique Strategy & Advantages Core Strategy ƒ Pursue large, upstream assets with multiple options – that we operate ƒ Target growth opportunities that are material to BHP Billiton ƒ Explore worldwide in a balance of proven plays and frontier areas ƒ Functional organizational model achieves top quarti

10. Slide 10: Global Operational Focus

    Global Operational Focus UK East Canada Algeria Petroleum HQ Pakistan Gulf of Mexico India Trinidad Vietnam Philippines Colombia Malaysia W Australia Bass Strait The Falklands Producing and development Exploration Barclays CEO Energy & Power Conference, September 2009 , New York Slide 10

11. Slide 11: Safety

    Safety Total Recordable Incident Frequency Rate Lost Time Incident Frequency Rate 5.00 2.50 4.73 4.00 2.00 1.93 3.00 1.50 2.37 2.18 1.93 2.00 1.00 0.47 1.00 0.50 0.27 0.00 0.00 0.00 2006 2007 2008 2009 2006 2007 2008 2009 * OGP Safety Performance Indicators Report No 419, May, 2009 Barclays CEO Ener

12. Slide 12: Volumes

    Volumes Production (MMboe) 140 6% = CAGR 9% FY07 to FY09 135 13% 130 125 120 115 110 105 2007 2008 2009 Barclays CEO Energy & Power Conference, September 2009 , New York Slide 12

13. Slide 13: Operating Efficiency

    Operating Efficiency 100,100,100 Production Efficiency (Uptime, %) ƒ Base production well managed 100 89 94 92 95 92 94 94 96 89 91 93 92 – 91.3% uptime – FY09 impacted by hurricanes ƒ Production averaged 376KBoe/d 0 1QFY07 3QFY07 1QFY08 3QFY08 1QFY09 3QFY09 Unit Cost Focus Cash Operating Costs ƒ Un

14. Slide 14: Significant Resource Position to Support Long Term Growth

    Significant Resource Position to Support Long Term Growth Attributable Reserves and Resources (mmboe, as at 30 Jun 2009) Total Resources 4,000 3,831 mmboe 3,500 Browse NW Shelf 3,000 Probable Reserves plus Gas Exmouth Bass Strait Contingent Resources Scarborough Angostura 2,500 2,449 mmboe 2,000 Pro

15. Slide 15: Commitment. Delivered.

    Commitment. Delivered. ƒ BHP Billiton Overview ƒ 2009 Petroleum Results ƒ Project Delivery ƒ Status of Discoveries ƒ Growth Options Barclays CEO Energy & Power Conference, September 2009 , New York Slide 15

16. Slide 16: Shenzi (44% w.i., BHP Billiton operated)

    Shenzi (44% w.i., BHP Billiton operated) Project overview ƒ TLP and subsea wells ƒ 4,300ft water depth – 2nd deepest TLP in the world ƒ 100 kbpd and 50mmcfd capacity (gross) ƒ Started up March 2009 ƒ Currently producing over nameplate capacity with 9 wells available Barclays CEO Energy & Power Confe

17. Slide 17: North West Shelf (16.67% w.i., non-operated)

    North West Shelf (16.67% w.i., non-operated) Projects overview ƒ Train 5: 4.4 mpta (gross) LNG train – Started up August 2008 ƒ Angel: 50 kbpd and 800 mmcfd (gross) – Started up October 2008 ƒ NRB: 2,500 mmcfd (gross) under construction – CY12 start-up Angel NorthNorth Rankin B (NRB) Rankin B (NRB)

18. Slide 18: Atlantis (44% w.i., non-operated)

    Atlantis (44% w.i., non-operated) Project Overview ƒ Semi-submersible Facility producing ~140 kbd ƒ Water injection wells in progress ƒ Excellent results from Northern Well ƒ Giant field Barclays CEO Energy & Power Conference, September 2009 , New York Slide 18

19. Slide 19: Pyrenees (71.43% w.i., BHP Billiton Operated)

    Pyrenees (71.43% w.i., BHP Billiton Operated) Project Overview ƒ FPSO and subsea wells ƒ 96 kbpd and 60 mmcfd capacity (gross) ƒ Drilling commenced January 2008. FPSO commissioning and subsea installation ongoing. ƒ Start-up H1 CY10 Barclays CEO Energy & Power Conference, September 2009 , New York S

20. Slide 20: Angostura Gas Phase II (45% w.i., BHP Billiton Operated)

    Angostura Gas Phase II (45% w.i., BHP Billiton Operated) Projects overview ƒ Installing new gas export platform adjacent to the company’s existing facilities ƒ 280 mmcfd capacity (gross) ƒ On schedule and budget. Platform fabrication continuing ƒ Start-up H1 CY11 Barclays CEO Energy & Power Conferen

21. Slide 21: Kipper & Turrum (32.5-50% w.i., non-operated)

    Kipper & Turrum (32.5-50% w.i., non-operated) Project Overview ƒ Kipper: Subsea tieback to existing West Tuna platform: 80mmscfd/10kbpd condensate ƒ Sanctioned Nov 07. Start-up anticipated CY11 ƒ Turrum: New platform (Marlin B) bridge-linked to existing Marlin A platform: 20kbpd/240mmcfd. Sanctioned

22. Slide 22: Gulf Of Mexico Business

    Gulf Of Mexico Business Production Shenzi (kboe per day) Mar 09 140 120 100 Neptune Jul 08 80 Mad Dog Jan 05 Atlantis 60 Oct 07 40 20 0 FY05 FY06 FY07 FY08 FY09 YTD FY10 Barclays CEO Energy & Power Conference, September 2009 , New York Slide 22

23. Slide 23: Commitment. Delivered.

    Commitment. Delivered. ƒ BHP Billiton Overview ƒ 2009 Petroleum Results ƒ Project Delivery ƒ Status of Discoveries ƒ Growth Options Barclays CEO Energy & Power Conference, September 2009 , New York Slide 23

24. Slide 24: Projects – Pre-execution

    Projects – Pre-execution Oil Gas LNG Petroleum HQ Gulf of Mexico Atlantis N Phase 2 Neptune N Mad Dog West North West Shelf Subsea tie-back NWS Greater Western Flank Knotty Head Gas fields development Deepwater development Western Australia Macedon Subsea wells and gas plant Thebe LNG development Sc

25. Slide 25: Mad Dog Field (23.9% w.i., non-operated)

    Mad Dog Field (23.9% w.i., non-operated) Project Overview ƒ Spar Facility and 7 dry tree wells producing ƒ 80 kbpd and 40 mmcfd capacity (gross) ƒ 4,500ft water depth ƒ West Extension well ƒ South Extension well (BHP Billiton drilled) ƒ Giant field 1 mi. North Mad Dog West appraisal well East West S

26. Slide 26: Macedon Project (71.43% w.i., BHP Billiton operated)

    Macedon Project (71.43 % w.i., BHP Billiton operated) Project Overview ƒ 800 bcf, 200 mmcfd (gross) dry gas development ƒ FEED awarded Q3, 2009 ƒ Planned sanction H1, 2010 ƒ Planned start date 2013 Barclays CEO Energy & Power Conference, September 2009 , New York Slide 26

27. Slide 27: Commitment. Delivered.

    Commitment. Delivered. ƒ BHP Billiton Overview ƒ 2009 Petroleum Results ƒ Project Delivery ƒ Status of Discoveries ƒ Exploration Program Barclays CEO Energy & Power Conference, September 2009 , New York Slide 27

28. Slide 28: Visible Exploration Program

    Visible Exploration Program Goals ƒ Material to BHP Billiton Corporation ƒ Balance of proven hydrocarbon systems and frontier basins ƒ Have best available data ƒ Control, operate FY10 Budget $600MM ƒ 2/3rd of budget targeted at drilling ƒ Focused on drilling high impact wells in GOM, Malaysia, Canad

29. Slide 29: Key Exploration and Appraisal Wells

    Key Exploration and Appraisal Wells Canadian Laurentian 1 well planned Malaysia 1 well planned Philippines 2 wells planned Gulf of Mexico 3 wells planned NWS Australia 2 wells planned Captured Exploration Strategy Pending ƒ Material in size to BHP Billiton Gippsland ƒ Balance proven plays and fronti

30. Slide 30: Significant Gulf of Mexico Position

    Significant Gulf of Mexico Position Core Miocene Play: ƒ Delivery area, mature, high success Miocene Play Extension: rate ƒ Step out from core play ƒ Strong position with captured leads and running room Mississippi Canyon DeSoto Canyon Gunflint/Freedom Green Canyon Knotty Head Lloyd Ridge Shenzi Nep

31. Slide 31: Sabah – Block N Malaysia

    Sabah – Block N Malaysia Baram/Champion delta systems Discoveries > 16BBoe to date Rotan 180MMboe Ubah 225MMboe Kamunsu Upthrown 305MMboe Kebabangan 316MMboe Kikeh 520MMboe Kakap-Gumusut 540MMboe Volume figures sourced from Woodmac Barclays CEO Energy & Power Conference, September 2009 , New York Sl

32. Slide 32: Western Australia – Strong Position

    Western Australia – Strong Position Thebe Overview Scarborough ƒ Scarborough and Thebe discoveries - 12 TCF WA-346-P ƒ New WA335 acreage ƒ On trend with current proven resources at Stybarrow, Pyrenees & Macedon ƒ Proximity to existing/potential new LNG & domestic gas infrastructure WA-351-P WA-335-P

33. Slide 33: Commitment. Delivered.

    Commitment. Delivered. ƒ Best Safety in Industry ƒ Solid Production Base – Large, Long Life Assets ƒ Deep Inventory of Projects ƒ Goal of 10 Percent Volume Growth in FY10 ƒ Consistent Solid Financial Results ƒ Low Cost, Stable Fiscal Countries ƒ Exploring in Great Neighborhoods Barclays CEO Energy &

34. Slide 34: ohpbilliton

    édl ohpbilliton ourcing the future

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