BHP Billiton to start back investing heavily into oil exploration

Over the next 12 months, BHP Billiton plans to spend more on exploration. Their program focuses on three conventional deepwater basins.

Laura Tyler, Head of Geoscience at BHP Billiton, explains, “Next financial year, we intend to invest approximately $900 million dollars in exploration, which represents 18 percent of our overall capital budget. We are also challenging existing paradigms with a scientific based and disciplined approach to exploration.”

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