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BHP Billiton Sets Gulf Drilling Record

Maritime Activity Reports, Inc.

August 24, 2007

Houston-based BHP Billiton Petroleum reported two company-operated drilling vessels set new benchmarks for deepwater drilling in the Gulf of Mexico recently. While working on a development well on the Shenzi oil and gas field, the GSF C.R. Luigs achieved a record low average of 1.52 days per 1,000 feet from spud to total depth. The well was drilled to a total depth of about 29,600 feet in only 33 days, while operating in water depths of nearly 4,300 feet in Green Canyon Block 654. The achievement matches a similar milestone earlier in the year in the Neptune development, when the GSF Development Driller I averaged 1.5 days per 1,000 feet for a new hole drilled.

“These successes can be celebrated only if we achieve them while protecting the health, safety and environment of the crews and other workers associated with these operations,” said Nigel Smith, president of development for BHP Billiton. “Careful planning and operation by all members of the team is necessary to achieve record performances such as these.”

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