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Australia GRIFFIN FACTSHEET

Extract from BHP Billiton Petroleum Operational and Financial Review 2005

HIGHLIGHTS

• The Griffin-3 Water Shut Off Campaign was completed and a sliding-sleeve arrangement

to allow the remote switching from one reservoir flow to another was installed

The Griffin oil and gas project is located 62 km

offshore on the North West Shelf in Western

Australian waters. Oil and gas from the Griffin,

Chinook and Scindian fields in the Carnarvon Basin

are produced via the Griffin Venture, an FPSO

facility. The Griffin Venture is a disconnectable

vessel that can relocate in the event of a cyclone.

The processing facilities onboard separate the

produced oil, water and gas. Water is treated

and discharged into the sea, gas is treated and

compressed and either exported for sale or

recycled for gas-lift to the oil producers.

The oil is stored on board and the gas is piped to

shore near Onslow, and then exported directly

into the Dampier to Bunbury natural gas pipeline.

Although Griffin gas is ‘out of spec’, the relatively

small gas volume, when blended with the stream

from the North West Shelf, maintains the pipeline

gas inert content within specification.

In 2005, as part of the Griffin-3 Water Shut Off

(WSO) Campaign, a sliding-sleeve arrangement to

allow the remote switching from one reservoir flow

to another was installed.

The installation consisted of:

• Isolating the lower Unit 1B Zeepaard

perforations, which are considered depleted, to

allow more efficient and incremental recovery

from the upper Unit 1A Zeepaard perforations.

• Perforating the Birdrong reservoir to allow

production at a later date.

• Installing an intelligent completion to allow

selective production from the Zeepaard or

Birdrong reservoirs. The system will allow this

operation to be executed from the Griffin

Venture without further rig intervention.

The well will use the existing Griffin-3 flowline

system, therefore no modifications are required to

the Griffin Venture facilities.

HSEC The HSEC performance on the Griffin Venture

in FY 2005 improved compared to the previous

financial year. We continued to implement the

Fatal Risk Protocols, and a gap analysis audit

was completed with a view to full compliance

in FY 2006.

A highlight for the year was the development of

a Behaviour Based Safety system. The majority of

Griffin personnel also underwent health checks and

skin cancer screening.

PRODUCTION Griffin crude oil production in FY 2005 was

3.9 MMbbl gross (1.8 MMbbl net to BHP Billiton),

or an average of 10,600 bbl/d (gross). Griffin total

gas sales were 5.95 Bcf gross (2.67 Bcf net to

BHP Billiton), or an average of 16.3 MMcf/d (gross).

PRODUCTION FY05

Net production (our share)

Crude oil 1.8 MMbbl

Gas 2.67 Bcf

Gross (total) production

Crude oil 3.9 MMbbl

Gas 5.95 Bcf

OWNERSHIP

BHP Billiton (Operator) 45%

Mobil 35%

Inpex Alpha 20%

A whale alongside theGriffin Venture

Licence Oil Field

Gas Field Gas Pipeline