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BHP, Repsol Find Oil in Gulf of Mexico Shenzi Field (Update2)
By resourceINTEL · October 30, 2009 · 6:48 am · Leave a Comment
Oct. 30 (Bloomberg) — BHP Billiton Ltd., Repsol YPF SA and Hess Corp. made two oil discoveries in the Gulf of Mexico’s Shenzi field, boosting their potential output from the region.
The finds are at the G104 and Shenzi-8 wells, Madrid-based Repsol said in a statement today. Melbourne-based BHP, the world’s largest mining company, is the operator and owns 44 percent of the venture. Repsol, Spain’s biggest oil company, and Hess, a U.S. oil producer, each own 28 percent.
These finds are “helping increase future production potential for the area, where output is already above expectations,” Repsol said.
BHP in March said it started producing crude and natural gas from the Shenzi field, which is located about 120 miles (193 kilometers) off the coast of Louisiana. The field is producing more than 120,000 barrels of oil a day, Repsol said today…read more at the Bloomberg
