BHP Pumps $708M Into Gulf Oil Venture With BP, Chevron

Law360, New York (April 11, 2012, 1:16 PM EDT) -- BHP Billiton has pledged $708 million to expand the world-class Mad Dog oil field it is developing in the Gulf of Mexico through a joint venture with BP PLC and Chevron Corp., BHP said Wednesday.

The precommitment funding will go toward phase two of the Mad Dog deepwater project, which will build a second spar facility with a production capacity of about 130,000 barrels of oil per day, according to a statement BHP issued Wednesday.

Final decisions for investments in the next phase of Mad Dog...
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