BHP Billiton Petroleum had a strong financial year in 2012 with increased production and revenues. Production volumes increased 40% to over 600,000 barrels of oil equivalent per day due to the acquisition and integration of Onshore US shale assets from Petrohawk Energy Corporation. Overall revenues increased by over 20% compared to 2011. BHP Billiton Petroleum continues to focus on operational excellence across its global conventional and unconventional oil and gas operations to deliver strong financial performance through increased production and efficiencies.

1. Powerful
Platform
BHP Billiton Petroleum
Annual Review 2012

2. COVER: BHP Billiton Petroleum Eagle Ford shale drilling operations
located in Texas, Onshore United States.
THIS PAGE: Shenzi, a BHP Billiton Petroleum operated stand-alone
tension leg platform in the Gulf of Mexico.
Endless
Opportunity
The strength of a super-major. The agility of an independent.
Our business is built on a powerful platform of high
quality oil and gas resources, functional excellence,
operating discipline and financial strength. We have
the people and skills to take on complicated and
diverse opportunities and the flexibility to move
quickly to deliver value in any environment.

3. 12-month periods ending June 30 2012 2011 2010 2009
BHP billiton group financial performance (US$ in Millions)
Turnover 72,226 71,739 52,798 50,211
Underlying EBIT 1
27,238 31,980 19,719 18,214
Petroleum financial performance (US$ in Millions)
Turnover (including third party) 12,937 10,737 8,782 7,211
Underlying EBIT 6,348 6,330 4,573 4,085
Average Realized Oil Price (US$/barrel) 110.66 93.29 73.05 66.18
Production and reserves total
Production – Million boe 2
222.3 159.4 158.6 138.0
Production – Thousand boe per day 2
634 437 434 378
Reserves – Millions boe 2,559 1,834 1,394 1,381
1 Underlying EBIT is earnings before net finance costs, taxation and any exceptional items.
2 During 2010, Gulf of Mexico natural gas production was restated to a dry gas number.
The impact was an increase in reported volumes (2010: 159 MMboe from 157 MMboe;
2009: 138 MMboe from 137 MMboe).
Operating and Financial Highlights Financial Year 2012
BHP Billiton Petroleum
Fayetteville, Arkansas
BHP Billiton shale drilling operations located in Arkansas,
Onshore United States.
Forward-Looking Statements
This document includes forward-looking statements within the
meaning of the US Securities Litigation Reform Act of 1995
regarding future events and the future financial performance
of BHP Billiton. Forward-looking statements can be identified
by the use of terminology such as ‘intend,’ ‘aim,’ ‘project,’
‘anticipate,’ ‘estimate,’ ‘plan,’ ‘believe,’ ‘expect,’ ‘may,’
‘should,’ ‘will,’ ‘continue’ or similar words. These statements
discuss future expectations concerning the results of operations
or financial condition, or provide other forward-looking
statements. These forward-looking statements are not
guarantees or predictions of future performance, and involve
known and unknown risks, uncertainties and other factors,
many of which are beyond our control, and which may cause
actual results to differ materially from those expressed in the
statements contained in this document. No representation or
warranty is made as to the accuracy, completeness or reliability
of the information and should not be relied upon as a
recommendation or forecast by BHP Billiton. Unless legally
required, BHP Billiton undertakes no obligation to update
publicly any forward-looking statements, whether as a result
of new information, future events or otherwise. For more
detail on those risks, you should refer to the sections of our
annual report on Form 20-F for the year ended 30 June 2012
entitled ‘Risk factors,’ ‘Forward-looking statements’ and
‘Operating and financial review and prospects’ filed with the
US Securities and Exchange Commission.
2 Petroleum Annual Review 2012
Table of Contents
4 Letter from the
Chief Executive
6 Health, Safety, Environment
and Community Performance
11 Financial Performance
14 People
16 Exploration
22 Development
28 Production
38 Marketing
40 Leadership Team
42 Global Operations Map

4. We had a strong year in all of the operational components to our business –
exploration, project development, drilling and our producing operations
around the world.
Believing in Zero Harm
We are one of the safest oil and gas companies in the industry.
Over the last six years, we have experienced continuous
improvement in our Health, Safety, Environment and
Community (HSEC) programs. Our progress over the last year
was no different. The total recordable injury rate within our
conventional business was 1.34 which is the best ever in our
history, and firmly places BHP Billiton Petroleum in the top
quartile of the industry. This success is the result of a focused
effort to do every task we carry out in a strong functional
manner that is under control, to understand the root cause
of incidents and implement solutions intended to prevent
the same issue from occurring anywhere else within our
global operations.
We will now take this same approach to each of our four
giant fields in the Onshore US business, with a goal of
becoming the safest company in industry. This is a significant
challenge that will require daily focus and dedicated effort.
We are proud of our HSEC achievements, and we are confident
that we will continue to make progress towards our goal of
Zero Harm this financial year.
Continued Growth
Our production volumes increased 40 percent over the prior
year driven by the acquisition, successful integration and
continued development of our Onshore US shale assets. In our
We further strengthened our position in the
Onshore US business through the acquisition
and successful integration of Petrohawk Energy
Corporation where we took new major positions
in the Haynesville, Eagle Ford and Permian fields
to complement our Fayetteville position. As a
result, we increased our workforce by 44 percent.
We now operate over 40 land drilling rigs in
addition to our deepwater drilling around the
world. These are big, big steps.
We are on course for continued progress in financial year 2013,
and have a powerful combination of resources, personnel and
a solid functional approach to the business to continue our
record of accomplishment and growth. We have a diversified
portfolio of oil and gas opportunities that gives us a lot of
flexibility to respond to market changes. Our volume growth
target of 10 percent compounded annual growth from 2011
through 2020 is expected to continue, and will be adjusted to
maximize value in response to market conditions. Many of
our competitors would like to replicate this strong position.
worldwide conventional business, we continue to lead the
industry in drilling performance and our operated major
projects continue to be completed on-time and on-budget.
Our total production averaged over 600,000 barrels of oil
equivalent per day, which was achieved despite extended
downtime at our non-operated conventional business in
the Gulf of Mexico, combined with the impact of decreased
activity in our dry gas Onshore US fields in response to lower
US gas prices.
Our operated producing facilities in the conventional business
recorded uptime performance of 94 percent during financial
year 2012. Our operating expenses per barrel remained near
US$6 and our depreciation per barrel was below US$14.
All of these metrics are highly competitive and, when combined
with our excellent financial terms in the United States and
Australia, the result continues to be high earnings and cash
flow per barrel.
In financial year 2013, we expect continued production growth
from our Onshore US fields where we will invest over
US$4 billion in drilling and facility development. We will also
continue to add development wells in our Gulf of Mexico fields
where we operate or have significant working interest in three
of the largest fields in industry – Shenzi, Mad Dog and Atlantis.
Also, we will start up the new Macedon gas project in Western
Australia. Overall we plan to spend over US$6.5 billion in
capital worldwide and another US$775 million in conventional
exploration. We will drill several high impact wildcat
exploration wells in the Gulf of Mexico, Southeast Asia and
Western Australia, while also running major seismic programs
in India, the Philippines and offshore South Africa.
The Way We Work
BHP Billiton Petroleum’s functional excellence approach and
focus on continuous improvement are key elements to our
success. We apply our deep functional expertise in all aspects
of our business with a goal of handling each segment of a
problem with world-class skills. We plan our activities
thoroughly and then execute them flawlessly with a highly
skilled workforce using common work processes worldwide.
Our scalable organizational model of centralized excellence
and decentralized execution has achieved significant success
in our conventional activities around the world. We are now
taking the same approach with the Onshore US business and
expect the same level of success in the coming years.
We will continue to expand our workforce and plan to
hire over 500 new employees this financial year. We have
opportunities that are unique in the industry and we are
always looking for more. We intend to become one of the
largest independent oil and gas companies in the world, as
part of one of the largest corporations in the world. Above
all, we intend to be the safest company in the business.
BHP Billiton Petroleum is
one of the safest oil and gas
companies in the industry.
Letter from the Chief Executive
Financial year 2012 was a period of tremendous
change for BHP Billiton Petroleum.
On Course
J. Michael Yeager
Chief Executive, BHP Billiton Petroleum
4 Petroleum Annual Review 2012 Letter from the Chief Executive 5

5. Health, Safety, Environment
and Community Performance
In the 2012 financial year, BHP Billiton Petroleum
continued its trend to reduce the frequency of
injuries at operations around the world.
Health, Safety and Environment
Our programs aim to ensure all risks are identified, properly
understood and controlled. Part of this is undertaking thorough
investigations of any incident to determine the cause to
prevent it from happening again.
Process safety management is the proactive identification,
evaluation and prevention of releases that could occur as a
result of failures in process, procedures or equipment. It is
an important obligation when carrying out our oil and gas
exploration and production activities.
Our process safety programs focus on the integrity of our
facilities and prevention of hydrocarbon loss of containment –
we make sure we have effective design, engineering,
maintenance, training and procedures to prevent incidents.
We believe that Zero Harm to our people, the
environment and our communities is achievable
through comprehensive systems and processes for
safe operations.
Commitment to
Zero Harm
C.R. Luigs drillship: Taking accountability for personal and
process safety.
In FY2012, we reduced our recordable injury rate by 16 percent, from 1.59 in
FY2011 to 1.34, an average 9.6% decline each year since 2008. This is an
excellent result due to our people always putting health and safety first and
embracing accountability for safety.
The increase in GHG emissions during FY2012 is primarily due to higher natural
gas fuel use resulting from an increase in production.
Process safety is just as important to us as personal safety and an important part
of our health, safety and environment accountability.
We have maintained a top quartile performance rating for spill intensity (volume
spilled per unit of production) in the oil and gas industry for a number of years.
During FY2012, the largest single spill was 0.35 barrels of oil.
*This Review reflects BHP Billiton’s operated assets and does not incorporate health, safety and environment data for the recently acquired Onshore US business.
Onshore US health, safety and environment data will be incorporated in BHP Billiton Petroleum’s internal reporting system commencing financial year 2013. BHP Billiton
has complied with local, state and federal regulatory reporting requirements throughout the integration of these new assets.
Personal Safety Process Safety
Categorizing Personal and Process SafetyHydrocarbon Spill Volumes*
FY08
FY10
FY11
FY12
Volume(LiquidInBarrels)
0
1
2
3
4
5
6
7
8
9
FY09
6 Petroleum Annual Review 2012 Health, Safety, Environment and Community 7
FY11
FY12
FY10
FY09
FY08
FY10
FY11
FY09
FY08
FY07
FY06
TotalLost-TimeIncidentsPerYear
0
10
20
30
40
50
TotalRecordableInjuriesPerYear
Rolling12-monthAverageFrequency(PerMillionHoursWorked)
0
10
20
30
40
50
Rolling12-monthAverageFrequency(PerMillionHoursWorked)
0
1
2
3
4
5
0
1
2
3
4
5
Total Recordables per FY 12-month rolling TRIF CO2
e – Carbon dioxide equivalent
Total Recordable Injury Frequency (TRIF)* Total Greenhouse Gas (GHG) Emissions*
FY08
FY09
FY10
FY11
FY12
0
500
1000
1500
2000
2500
1000TonnesOfCO2
e

6. Ningaloo Reef, Western Australia: Support for a whale-watching
program at Western Australia’s World Heritage Ningaloo Reef.
Houston, Texas: BHP Billiton Petroleum employees volunteer to
rebuild homes with Rebuilding Together Houston.
We complete a social
baseline study to measure
the quality of life and social
and economic environment
to identify our focus areas
in our communities.
Community
We live in the communities of our business activities and
endeavor to make a positive contribution to the lives of
people who live near our operations.
At BHP Billiton Petroleum, we build upon our work in the
community by completing a social baseline study to
measure the quality of life and social and economic
environment to find what focus areas we should target
for community development.
One example is in Pakistan where we support education
to improve the standard of living of our host community.
Our 2012 Social Impact and Opportunity Assessment,
conducted by an independent consultant, found that an
adult literacy program we support has taught over 500
local women how to read and write, and BHP Billiton
Petroleum funding has upgraded nearly 40 percent of
school infrastructure in the region.
The same study found that BHP Billiton Petroleum contributed
to more than half of road infrastructure in the area around
the Zamzama Gas Plant. Similarly, a water improvement
program is intended to deliver a permanent, reliable and
clean water supply to the communities surrounding the
Zamzama facility. We installed 190 hand pumps and
filtration units in 85 villages to draw water from a shallow
underground aquifer and trained community members on
how to use and maintain them. We have plans to install
filtration units in 40 additional villages in the region.
In addition to our efforts in Pakistan, we have numerous
community projects and programs across our global
operations. In Trinidad and Tobago, where tourism is
important to the economy and depends upon sustainable
environmental policies to draw tourists to the area, we are
a founding partner of the Turtle Village Trust. It creates
employment for over 100 community members and supports
local business development linked to the tourism industry
and the conservation of the leatherback turtle population.
In Australia, we supported a whale-watching program at the
World Heritage Ningaloo Reef. In the Onshore US business,
we are engaging with community and other stakeholders
to identify the best way we can support communities in
Arkansas, Louisiana and Texas.
These are just a few examples of BHP Billiton Petroleum’s
commitment to sustainable development and community.
Our people do great things in the community. We recognize this and match
dollar-for-dollar, donations, fundraising and volunteer hours gifted by our
employees to charities of their choice. In FY2012, fundraising, donations and
volunteering by employees amounted to $1,656,949 (including BHP Billiton’s
matched share).
We develop partnerships that foster sustainable community growth, such as
enhancing socioeconomic benefits from our operations and supporting
education initiatives.
Community Investment
by Program Category
Education 56%
Health 29%
Community Development 10%
Environment 5%
Community Investment
by Program Category
Donation 82%
Fundraising 17%
Volunteering 1%
Community Investment
by Program Category
Education 56%
Health 29%
Community Development 10%
Environment 5%
Community Investment
by Program Category
Donation 82%
Fundraising 17%
Volunteering 1%
Petroleum Community Investment by
Program Category FY2012Petroleum Matched Giving FY2012
Sindh Province, Pakistan: In Pakistan, BHP Billiton Petroleum encourages the involvement of women in
education. BHP Billiton-supported schools employ over 100 people, over 60 percent of them women, and
educate hundreds of children, of which 78 percent are girls.
8 Petroleum Annual Review 2012 Health, Safety, Environment and Community 9

7. Financial Performance
A common approach to all tasks
and the standardization of
equipment and processes have
been the key drivers for integrating
the shale business into BHP Billiton
Petroleum’s operations.
After acquiring Petrohawk Energy Corporation in
2011, BHP Billiton Petroleum’s Health, Safety,
Environment and Community (HSEC) team began
the task of aligning safe work practices for the new
onshore shale operations, in collaboration with
Petrohawk’s experts and experience.
We identified emergency and medical response capabilities
as an important place to start.
In just 90 days, we successfully established new emergency
response processes and plans. We worked closely with local
county emergency response services, such as police, fire and
ambulance services, to align our procedures. Site-based
teams are trained and equipped to deal with operational or
medical emergencies.
We have also begun working with our onshore contracting
partners on BHP Billiton Petroleum safe operating procedures
and HSEC expectations. The benefits are already visible in our
securing of the latest generation of land drilling rigs that are
more environmentally efficient and include more automation
to remove our people from risky activities.
Integrating Best Practice Health and Safety
Onshore US: Aligning safe work practices and procedures in our Onshore US operations.
Strong Underlying EBIT of US$6,348 million was essentially unchanged from the
prior year despite substantial production deferments at high-margin assets in the
Gulf of Mexico and North West Shelf.
BHP Billiton Petroleum delivered a strong financial
performance, with Underlying EBIT unchanged from
the previous year at US$6.3 billion.
Robust Financial
Performance
Our combination of resource diversification,
technology, strong operational performance,
solid financial position and long development
horizon provides us with a distinct advantage.
Excellent performance by our operated offshore global assets
and the successful integration of our Onshore US shale liquids
and gas assets contributed to a 40-percent increase in
production over the year.
We forecast production to increase even further to
approximately 240 million barrels of oil equivalent in the
2013 financial year, underpinned by the recommencement of
production at non-operated assets in the Gulf of Mexico and
an expansion in activity in our liquids-rich Onshore US
acreage. Developing our liquids-rich shales, such as Eagle
Ford, will complement our traditional project pipeline given
the rapid payback on investment and high rates of return.
Earnings Before Interest and Tax
FY11
FY12
FY10
FY09
FY08
0
7000
6000
5000
4000
3000
2000
1000
30%
70%
80%
90%
100%
60%
50%
40%
EBIT incl. Third-Party Products EBIT Margin
EBIT–$million
EBITMargin
Annual Volume
FY2012 represents another year of record volumes for BHP Billiton Petroleum
with production of 222.3 million barrels of oil equivalent. Petroleum volumes
increased 40 percent over the prior year driven by the acquisition and successful
integration of our Onshore US shale assets.
FY08
FY09
FY10
FY12
FY11
0
50
100
150
200
250
Liquids Gas
AnnualVolume–MMboe
10 Petroleum Annual Review 2012 Financial Performance 11

8. Total investment grew significantly during the financial year due to
development spending in the acquired Onshore US fields and an increase
in exploration spending.
0
1000
2000
3000
4000
5000
6000
7000
8000
FY08
FY09
FY10
FY12
FY11
Investment
Capital Expenditure Exploration Expenditure
FY11
FY12
FY10
FY09
FY08
0
50
100
150
200
250
0%
100%
200%
300%
400%
500%
Production and Reserves Replacement
We have achieved complete reserves replacement for the past five years.
Financial year 2012 proved reserve additions of 624 million boe from the
Petrohawk assets were the most significant factor in achieving an exceptional
reserves replacement ratio of 429 percent.
ProductionVolume–MMboe
ProvedReservesReplacementRatio
Production Volume Proved Reserves Replacement Ratio
Expenditures–$Millions
Shenzi, Gulf of Mexico: Strong performance by our operated offshore assets and the Onshore US business contributed to a
40-percent increase in production over the year.
Proved+Probable+
Contingent (2P+2C)
Proved+Probable
(2P)
Proved
(1P)
0
2
4
6
8
10
12
Reserves
Proved Reserves were 2,559 million boe at 30 June 2012. Proved + Probable
Reserves were 3,213 million boe and on a Proved + Probable + Contingent
Resources basis were 10,790 million boe. This demonstrates the depth of future
options for growth within our globally diverse portfolio.
Australia United States Worldwide/Other
Reserves–Billionboe
Operating costs were US$6.90 per boe and continue to be among the lowest in
our industry when compared to historical benchmark data. This has been
achieved through strong operating discipline to safely maximize output from our
producing assets and to manage costs. *Peer Group includes Anadarko, Apache,
BG Group, Hess, Marathon, Noble and Talisman.
0
20
16
12
8
4
FY10
FY09
FY11
FY12
FY08
Unit Operating Costs*
US$6.90per boe
UnitOperatingCosts–$perboe
DDA grew from financial year 2011 levels to US$13.80 per boe and remained
very competitive against historical benchmark data. This reflects the high quality
of our existing assets and continued cost control in our major capital projects.
Our sustained low unit DDA is consistent with our strategic objectives of
building a business based on long-life and low-cost assets. *Peer Group includes
Anadarko, Apache, BG Group, Hess, Marathon, Noble and Talisman.
0
5
10
15
20
25
FY11
FY12
FY09
FY10
FY08
Unit Depletion, Depreciation
Amortization (DDA)*
US$13.80per boe
Peer Group BHP Billiton Peer Group BHP Billiton
UnitDDA–$perboe
Our strong financial
platform allows us to take
a long-term approach.
By focusing on the
fundamentals, our operating
costs continue to be among
the lowest in the industry.
12 Petroleum Annual Review 2012 Financial Performance 13

9. Angostura, Trinidad and Tobago: Our 4,000-plus employees are
the foundation of our business.
We believe an organization with the right
people in the right position, can achieve
success. Our business requires talented and
committed people from a wide range of
disciplines and skills. We want to attract the
very best experts, and we provide an
environment where everyone is challenged
and guided to realize their potential.
Functional Excellence
The complexity and scope of our business requires deep
functional excellence, which means focusing on a particular
discipline in our business and developing world-class skills
in that area.
This ensures that work is performed by experts and that we
make the best possible decisions.
Opportunities for Talented People
Our model of functional excellence gives people the
opportunity to develop their skills so that they make the
highest-value contribution to the company and progress
in their career.
High performing people drive our business, and we have a
comprehensive career development program to advance
talented people through the organization. Our Career
Ladder maps career pathways and desired skills, knowledge
and competencies for employees as they move forward in
the business.
We put the right experts on the job and focus
on the fundamentals.
Where People
Want to Be
We assess the competencies of our employees to accelerate
the development of our people and identify skill strengths
and opportunities around the world. We may find we are rich
in one skill and lighter in other areas and create training and
development adjustments as needed.
To attract the best people in the business, we provide our
employees with excellent conditions and rewards. Our people
are given the opportunity to develop their skills to provide the
greatest contribution to the company and further their career.
People
Effective teams need to be resourced appropriately
and have a range of skills, capabilities and levels of
experience. Our leaders are personally involved in
managing the careers of each individual in our
functional job families and carefully align individual
development needs with the different requirements
of our operations and project pipeline.
We use management tools to analyze and model
competencies in different teams. This gives us a clear view
of every person’s experiences and capabilities and overall
team requirements around the world. From this, we can align
resources effectively and develop options for rotating
talented people to different areas.
We want to develop a deep set of competencies for everyone
at BHP Billiton Petroleum. A rigorous, annual performance
review process facilitates an assessment of each person’s
capabilities, identifies areas for further development and
creates a plan to achieve those goals.
We find professionals are more fulfilled when they experience
a diversity of challenges over the course of their careers, so
we have built a system that tracks capabilities and provides
real-world experience in order to develop our people to be
the best in their field.
Two powerful factors help drive BHP Billiton Petroleum’s success –
people and functional excellence.
Customized Careers
Houston, Texas: We have a clear view of every person’s experience, capabilities and team requirements around the world.
14 Petroleum Annual Review 2012 People 15

10. Exploration
BHP Billiton Petroleum’s exploration strategy is to
grow our resource base through large discoveries in
proven basins.
The Gulf of Mexico and offshore Western Australia
continue to be focus areas that underpin our exploration
program. In financial year 2012, our major discovery was
Tallaganda in Western Australia’s offshore Carnarvon
Basin, opening up a large area close to our existing fields.
Seismic Operations
In financial year 2012, we conducted seismic surveys in the Philippines
and Malaysia with the intention of capitalizing on our deepwater
competence in this world-class region in the future.
16 Petroleum Annual Review 2012 Exploration 17

11. Both of these are proven world-class basins
with significant running room for material
opportunities, relatively stable fiscal terms
and reasonable probabilities for success.
Our strategy is to focus on material opportunities, at high
working interest, with a bias for operatorship.
Making Discoveries with the
Latest Technology
Our exploration team is producing results using the latest
geological and geophysical technology to locate new
resources, enabling the potential for significant growth in
the next financial year.
We are at the forefront of technological innovation in
the industry, completing seismic surveys with cutting-edge
acquisition and processing technologies.
Promising results using broadband seismic technology in
India have prompted the exploration team to test a similar
process in Malaysia. BHP Billiton Petroleum values early
adoption of technology for competitive advantage, and
the seismic imaging team’s efforts in Southeast Asia
demonstrate this ambition.
A Disciplined
Approach to
Exploration
We have two focus areas based on BHP Billiton
Petroleum’s production heartlands – the Gulf of
Mexico and offshore Western Australia.
Exploration
Australia
The Tallaganda discovery in Australia’s Carnarvon Basin marks
our biggest discovery in 2012 and opens up a large area of
captured acreage with many potential follow-up opportunities.
Our successful drilling of the North Scarborough appraisal well
proves a significant extension to the Scarborough gas resource.
We are committed to this basin and have accumulated
additional prospective acreage in the region over financial
year 2012.
United States – Gulf of Mexico
During financial year 2012, our exploration team returned
to work in the Gulf of Mexico, successfully drilling near field
exploration and appraisal wells, including Mad Dog North,
Shenzi North and Gunflint. In the recent lease sale, we are
the apparent high bidder on 20 new blocks that could add
significantly to our position in this core basin. In financial
year 2013, we will execute a significant drilling campaign
and continue to evaluate opportunities to expand our
acreage position in this proven basin.
We have world-class assets currently operating in the
region, with plans to add new acreage to our robust Gulf
of Mexico portfolio.
Discoveries Offshore
Transocean’s GSF C.R. Luigs 10,000 foot ultra deepwater drillship,
located in the Gulf of Mexico.
18 Petroleum Annual Review 2012 Exploration 19

12. Gulf of Mexico
Gulf of Mexico
Mississippi
Western Australia
Indian Ocean
South East Asia
Texas Louisiana
Brunei
Malaysia
Philippines
Western
Australia
Indian Ocean
Tallaganda
Discovery
Southeast Asia
Southeast Asia is another world-class province in which we
operate. Industry is just beginning to move into deepwater
and our intent here is to capitalize on our deepwater
competence, developed in our Gulf of Mexico and Western
Australian heartlands, and be at the forefront of this move.
In Financial Year 2012, we broadened our acreage position,
executed seismic acquisition operations in Malaysia and
the Philippines and added resources with two discoveries
in Brunei.
Other Areas
In addition, we own significant acreage offshore South Africa
and India. In both areas we are planning major 3D seismic
acquisition programs for financial year 2013.
Working with Communities
Our New Ventures team is always on the lookout for
new opportunities.
After acquiring an interest, the team uses seismic surveys
as one of many tools to search for hydrocarbons within
the licensed area.
Seismic work can often occur in environmentally sensitive
areas, so working with the local community and government
is extremely important.
When our seismic acquisition team arrived in the Philippines,
they worked with local industry and government to create a
plan that was suitable for all parties. We collaborated with
local fishermen, the Bureau of Fisheries and Aquatic Resources
and a local recovery crew to successfully remove 93 fishing
devices from an area in which we were undertaking seismic
surveys. We also compensated local fishermen for the
short-term interruption to their livelihoods during the
seismic survey.
Exploration blocks/acreage held by BHP Billiton Petroleum Note: Maps and acreage are not to scale.
South China Sea
Seismic imaging is at the core of BHP Billiton Petroleum. Without quality
sub-surface images, upstream operations cannot commence. Our scientists
help generate seismic datasets for exploration, development, production
and planning activities.
Our first-rate Seismic Processing and Imaging
Team, a part of BHP Billiton Petroleum’s
Geoscience Operations, is an industry leader in
technological innovation.
In financial year 2012, the Seismic Processing and Imaging
Team helped solve several complex issues. They used novel
broadband acquisition and processing techniques to
illuminate sub-basalt images in a frontier region critical to
Petroleum’s exploration program. They were also the first to
commercially apply tilted orthorhombic pre-stack depth
migration to substantially improve images of the sub-surface
reflectivity in an onshore area with complex geology. These
and other new seismic volumes should improve planning for
future exploration, development and production programs.
Our experts are plugged into the scientific community to
keep at the leading edge of technology, participating in
industry-wide technical conferences, providing technical
peer reviews and contributing to industry publications.
Our scientists believe it is the relatively small size of the
group, enhanced by the team’s varied backgrounds, that
gives them the opportunity for exposure and involvement
across the company. What sets the team apart from others
of our size is that the company has a financially powerful
platform which can enable the implementation of high-
technology solutions.
Geoscience at BHP Billiton Petroleum is an exciting place to
be, with great opportunities for high-performing people.
Leaders in their Field
Seismic Processing and Imaging Team: The team has numerous technology benchmark projects with research institutions around the world.
20 Petroleum Annual Review 2012 Exploration 21

13. The drilling team at BHP Billiton Petroleum sets industry-
leading safety and operational standards by identifying
ways to eliminate safety hazards. Maintaining common
worldwide standards, cultivating a culture of continuous
improvement and focusing on hazard elimination creates
a scalable and proven system applicable to any onshore
or offshore drilling operation at BHP Billiton Petroleum.
Development
BHP Billiton Petroleum has a significant number of development
projects in the pipeline. With a strong foundation in place,
we are prepared to embark on a host of exciting projects in
financial year 2013. Onshore US
Development of liquids rich shales complements our traditional
project pipeline given the rapid payback on investment and high
rates of return.
22 Petroleum Annual Review 2012 Development 23

14. BHP Billiton continues to invest in development
opportunities for long-term growth for the future.
Australia
We anticipate the US$1.5 billion (100 percent basis) Macedon
gas development project will play a significant role in providing
natural gas to strong markets in Australia.
The Macedon field is located approximately 100 kilometers
west of Onslow off the Western Australian coast. Four offshore
production wells will supply a wet gas pipeline to an onshore
domestic gas treatment plant. The gas plant will have a
design capacity of 200 million standard cubic feet per day.
First production from this important project is expected
during calendar year 2013.
BHP Billiton Petroleum’s capital spend during
financial year 2012 was US$5.8 billion, consistent
with our commitment to long-term growth.
Development
United States – Gulf of Mexico
The Shenzi Water Injection Project will increase ultimate
recovery by nearly 115 million barrels of oil equivalent (100
percent basis) over the next 20 years, enhancing our long
term growth profile in the Gulf of Mexico.
BHP Billiton Petroleum was the first to use ultra-filtration and
sulfate-removal technology for seawater treatment on an
offshore facility with our Shenzi Water Injection Project. We
installed new topsides equipment and subsea facilities to treat
and inject up to 125 thousand barrels per day of seawater at
7,000 pounds per square inch into the Shenzi field via three to
five new water injection wells.
Shenzi’s record of high uptime of 92 percent and production
near 100,000 barrels of oil per day during execution of this
complex project is a testament to the skill and expertise of
our team in the Gulf of Mexico. Facilities were completed
safely and under budget, and the first increase in the
production rate is expected in financial year 2013.
United States – Onshore
Using local contractors, BHP Billiton Petroleum invests in
critical pipeline infrastructure to bring valuable gas and liquids
to market. In financial year 2012 we installed approximately
310 miles of pipeline infrastructure in the Eagle Ford and
Permian shales. In coming years we expect to construct six
new processing plants to add significant capacity and lay
approximately 800 miles of pipeline to link our operations in
the Eagle Ford.
Additional infrastructure development in the Permian basin is
being evaluated, including approximately 600 miles of pipeline,
gas dehydration, compression facilities and cryogenic facilities.
Development
Opportunities
Texas, Onshore US: Our development team is taking critical steps
to expand take-away capacity through on-time and on-budget
infrastructure delivery.
Shenzi Water Injection Project
The Shenzi Water Injection system design is just one of the ways
BHP Billiton Petroleum uses the latest technology to increase safe
production and achieve results. The system design is the first of its
kind, taking the best components of existing technology and
combining them to create a state-of-the-art filtration and treating
system to pressurize and protect the reservoir.
24 Petroleum Annual Review 2012 Development 25

15. 1. Future Options 2. Definition 3. Execution
Scarborough
Thebe
MacedonBrowse
US $5bn+ US $501m-US $5bn+ US $500m
Kipper
Knotty Head
Mad Dog Phase 2
BS Longford GCP
NWS Greater Western Flank A
NWS North Rankin B
Turrum
Placement of projects not
indicative of project schedule.
Proposed Capital Expenditure (BHP Billiton Share) as of 22 August 2012
Macedon, Western Australia: Modules arrive for construction of the Macedon Gas Plant.
The Thalanyji’s connection to the land around the
Macedon Project is strong and there are a number
of culturally significant places in close proximity
to our development.
Protecting those places was a high priority for the project,
and we engaged the Thalanyji people as Heritage Monitors
who were present during periods of ground disturbance.
This was particularly important during the commencement
of the onshore horizontal directional drilling (HDD) program
to install a wet gas pipeline and umbilical that would
eventually connect to the Macedon gas plant.
HDD was selected to avoid disturbing a vast area of sand
dunes containing two significant heritage sites and one
ethnographic site. The Thalanyji people provided heritage
monitoring support throughout the campaign to ensure
that the sites were not disturbed by project activity.
We introduced cultural awareness training for all project
staff and contractors, facilitated by the Thalanyji people,
to ensure Aboriginal culture was understood and respected
by our team members.
The strength of our relationship with the Thalanyji people
was demonstrated by our team’s ability to involve the local
community in the project wherever possible.
BHP Billiton Petroleum’s successful collaboration with the Thalanyji people
of Onslow in Western Australia illustrates our genuine respect for the local
community. We know that success depends on our ability to build
relationships and work transparently with host communities.
Respect and collaboration for
project success
Heritage Monitors: BHP Billiton Petroleum makes it a priority to engage and involve local communities
during the development of the Macedon Project, especially in culturally significant areas.
26 Petroleum Annual Review 2012
BHP Billiton Petroleum has significant projects in the pipeline to provide valuable opportunities for future growth.
Development 27

16. Production
BHP Billiton Petroleum’s platform of resource diversification,
breadth of technology, solid financial position, discipline and
our relentless pursuit of excellence provide our business with
a distinct advantage.
Our Australian assets delivered significant volumes in
financial year 2012, totaling 80.8 million barrels of oil
equivalent (BHP Billiton share). High-margin liquids
and LNG accounted for 70 percent of this volume.
Stybarrow, Australia
The Stybarrow FPSO facility, located offshore Western Australia,
achieved a milestone in financial year 2012, producing its 50 millionth
barrel of oil.
28 Petroleum Annual Review 2012 Production 29

17. Production – Conventional
Our operated conventional facilities continue to
deliver exemplary facility uptime performance,
averaging 94 percent for the financial year.
Australia
Our operations in Australia make up a significant part of our
portfolio, accounting for 36 percent of produced volumes this
financial year. Production totaled 80.8 million barrels of oil
equivalent (BHP Billiton share) from our operated facilities at
Pyrenees, Stybarrow and Minerva in addition to our non-
operating interest in the Bass Strait and North West Shelf.
The world-class Pyrenees and Stybarrow floating production
storage and off-loading (FPSO) facilities, located in Western
Australia, both reached a key milestone in November 2011,
producing their 50 millionth barrel of oil. Pyrenees reached
this achievement less than two years after start up with an
average uptime of 93 percent for financial year 2012.
Strong Production
Foundation
Our worldwide conventional operations are
positioned to deliver strong and sustaining base
production with continued potential for growth,
in line with Petroleum’s long-term strategy.
Pakistan
Tremendous results were seen at the Zamzama gas plant in
financial year 2012, as the front-end compression project was
commissioned in July 2011. Production rates increased by more
than 35 percent, peaking at 500 million standard cubic feet
per day as a result of the reduction in operating pressure. In
addition, new development opportunities have progressed
with an infill drilling program which began in June 2012.
Our production unit in Pakistan won BHP Billiton Group’s
highest accolade in financial year 2012 – the CEO’s
Sustainability Excellence Award – for strong performance
in contractor management, process safety initiatives and
addressing critical needs of the host community, including
education assistance, flood relief and providing access to
safe drinking water.
Trinidad and Tobago
The completion of the Angostura Gas Project marked a
significant milestone for our business in Trinidad and Tobago,
coming online on time and within budget in May 2011. With a
full year of production from this project, Trinidad and Tobago
delivered seven times the natural gas volumes realized in
financial year 2011, with gas rates peaking at over 240 million
standard cubic feet per day.
Angostura Gas Plant, Trinidad and Tobago
The Angostura team in Trinidad and Tobago puts safety and
environmental sustainability first. We support the National Oil Spill
Contingency Plan, working alongside the Ministry of Energy and
Energy Affairs, the Association of Upstream Operators of Trinidad
and Tobago and key emergency response agencies.
30 Petroleum Annual Review 2012 Production – Conventional 31

18. Pyrenees, Australia
Pyrenees, our FPSO facility in northwest Australia, reached a key
milestone in November 2011, producing its 50 millionth barrel of oil.
Pyrenees reached this achievement less than two years after start up
and averaged facility uptime of 93 percent for the financial year.
United States – Gulf of Mexico
Our operated Shenzi and Neptune fields delivered exemplary
results in financial year 2012, averaging 50 thousand barrels
of oil equivalent per day (BHP Billiton share) with 92 percent
facility uptime and unit operating cost of US$4.00 per barrel
of oil equivalent.
Successful infill drilling at Shenzi more than offset natural field
decline, as liquids production increased six percent from the
prior year with the startup of the SB101 well in September 2011
and the H101 well in June 2012.
Production in our non-operated Gulf of Mexico facilities was
challenged in financial year 2012 due to a planned subsea
manifold replacement at Atlantis and integrity repairs and
replacement of the spar drilling rig at Mad Dog. Production
from both fields will recommence in financial year 2013.
In financial year 2012, our team in the operated Gulf of Mexico Production
Unit delivered remarkable year-on-year improvements in safety performance
and production despite challenges associated with tropical storms and
major brownfield construction for the Shenzi Water Injection Project.
A step change in safety performance was seen from
the prior year, as the total recordable injury frequency
dropped from 3.4 to 1.5 in a year with a significantly
higher number of contract employees and man hours
associated with the water injection project
installation. This was accomplished by the strong and
successful integration of the Production and
Development teams, detailed risk assessments, clear
protocols for simultaneous operations, assigned
accountability and increased levels of verification
of adherence to procedure.
The extensive simultaneous operations were completed with
minimal effects to production, as Shenzi produced with an
average facility uptime of 92 percent for the financial year
and delivered a six percent increase in liquids volumes
year-on-year due to successful infill drilling.
Field development at Shenzi is ongoing, and building upon
the success seen with the timely completion of two new infill
wells during the financial year. These wells targeted a new
pay horizon and were brought online with initial production
rates totalling more than 20 thousand barrels of oil equivalent
per day and aided in the delivery of 165 percent reserves
replacement for the field.
Record achievement in the Gulf of Mexico
Shenzi, Gulf of Mexico: The Gulf of Mexico production unit achieved
superior business results in what was a complex year.
Shenzi produced with an
average facility uptime
of 92 percent for the
financial year.
32 Petroleum Annual Review 2012 Production – Conventional 33

19. Steel casing and cement
Two layers of steel
casing and cement
1. On the Surface
We level the site, construct a lease road, erect the drilling rig and
place support facilities on the pad.
Multiple truck-sized pieces of equipment, such as storage units,
pumps and control systems, are brought to the site during the
completion phase.
We drill and complete multiple wells from a single pad to minimize
surface disturbance to other activities or habitats. After all the wells
are completed, we restore the perimeter of the site close to its original
condition, leaving only a minimal surface footprint.
2. Surface Drilling and Casing
We start by drilling a hole to a depth of approximately 80-100 feet,
and install a 16-20 inch diameter conductor casing pipe, which is
then cemented in place.
3. Protect Drinking Water
Next, we drill to a depth specified by state regulatory agencies to
protect ground water. The surface casing is then installed and
cemented in place by pumping cement down the pipe. The cement is
circulated from the bottom of the surface casing and rises back up to
the surface outside of the casing to secure and add another layer of
protection and strength.
4. Horizontal Drilling
We continue to drill vertically until we approach the target shale
then directionally drill the well path until it is horizontal and gives
us maximum exposure to the shale strata.
5. Production Casing
The drilling phase is finished after we install and cement an additional
set of piping from the bottom of the well all the way back to the
surface to form another barrier.
6. Perforating
The completion phase starts by using precisely placed perforating
devices to create holes in the production casing to provide access
to the reservoir.
7. Hydraulic Fracturing
The well is ‘completed’ by pumping fluid and proppant (mostly water,
additives and sand) under very high pressure down the well, out the
perforations and into the rock formation. The high pressure breaks
up the rock, releasing the natural gas and petroleum from microscopic
voids in the shale so that they can flow up the well bore. Sand, called
proppant, holds the fractures open. We repeat this process several
times along the horizontal segment of the wellbore.
Underground Sources of Drinking Water
Production – Unconventional
Investing for the
Long-term Onshore
Our position in shale basins across Texas, Louisiana and
Arkansas covers over 1.6 million combined net acres
with an estimated yield of approximately 8.0 billion
barrels of oil equivalent over the next 50 years.
These large, long-life and low-cost assets
have tremendous resources with potential
for significant future development, making
BHP Billiton Petroleum one of the industry
leaders in some of the most productive shale
basins in the United States.
In 2011, BHP Billiton Petroleum acquired assets in the
Fayetteville, Eagle Ford, Haynesville and Permian shale plays.
These strategic additions to our oil and gas portfolio create
short- and long-term growth potential.
Our size and scale allow us to leverage the flexibility of our
diverse onshore portfolio to respond to market conditions.
In financial year 2012, we adjusted our plans to focus on oil
rather than gas, while maintaining our capability to ramp up
in the future when natural gas prices rebound.
Our first year operating onshore was a success, with total
production at 85.6 million barrels of oil equivalent,
13 percent liquids and 87 percent dry gas.
Texas
The Eagle Ford shale in Texas offers an attractive mix of natural
gas, condensate and natural gas liquids and has the highest
rig count of US unconventional plays.
Our liquids-rich shale assets in the Eagle Ford offer some of
the highest economic returns among US shale plays. Many
wells in this field yield returns of over 100 percent with an
average payback in the first year of production.
The Permian Basin is another vast resource base in West Texas
providing the opportunity for long-term development of this
liquids-rich area.
We are focusing the majority of Petroleum’s Onshore US activity
on liquids in financial year 2013.
Arkansas and Louisiana
Technology and innovation have driven the phenomenal
growth of gas, and consumption of natural gas in the United
States is forecast to grow by 30 percent over the next 20
years. BHP Billiton Petroleum is positioning itself to meet
rising gas demand by developing the Haynesville and
Fayetteville shale plays.
The development of shale gas technology has provided the
United States with some of the largest gas reserves in the
world, and BHP Billiton Petroleum’s shale gas properties
in Arkansas and Louisiana are among the lowest cost in
the country.
The Haynesville shale in Louisiana alone currently produces
enough natural gas to satisfy 10 percent of US gas demand,
and we are the second largest leaseholder in this field. We are
also the second largest in Arkansas’s Fayetteville play. Our
position in these shales demonstrates our commitment to both
fields for the long-term.
Developing Onshore Resources Sustainably
Note: The diagram and remarks are for illustration and are not an
actual well schematic or to scale. Well designs and completions are
well specific.
BHP Billiton Petroleum is a global company, operating in diverse and sensitive
areas. We work with integrity – making the right decisions and doing things
the right way. How the result is achieved is as important as the result itself.
34 Petroleum Annual Review 2012 Production – Unconventional 35

20. Shale Fields, United States
TX
LA
ARNM
OK
Fayetteville
Black Hawk
Hawkville
Delaware S Midland
Eagle Ford
Permian
Haynesville/Bossier
Liquids Area
Dry Gas Area
TX
AR
LA
OK
NM
We continue to evaluate
technologies that allow
us to re-use produced and
flowback water in the
hydraulic fracturing process.
Estimated Impacts for the Eagle Ford Shale at the Regional Level 2021 in millions of dollars (14-County Area)
Total Impacts (Three Scenarios) Low Estimate Moderate Estimate High Estimate
Output (Revenue) $26,141 $62,338 $96,001
Employment 44,237 82,645 115,669
Payroll $2,810 $6,019 $8,993
Gross Regional Product $13,700 $34,112 $54,031
Estimated Local Government Revenues $326 $888 $1,426
Estimated State Revenue, including severance taxes $495 $1,567 $2,593
A three-level projection of the combined total impact of Eagle Ford Shale activity in the 14-county area. Variables that count impact study include
commodity prices, production yields, investment, competition and demand.
Source: University of Texas San Antonio Economic Impact of the Eagle Ford Shale (May 2012)
A three-level projection of the combined total impact of Eagle Ford shale activity in the 14-county area. Variables that could impact study estimates include
commodity prices, production yields, investment, competition and demand.
Source: Tunstall et al (2012). Economic Impact of the Eagle Ford Shale. University of Texas at San Antonio: Institute for Economic Development.
Eagle Ford Shale, Texas: Our liquids-rich shale assets in the Eagle Ford offer some of the highest economic returns among US shale plays.
Petrohawk discovered economic hydrocarbons in the Eagle Ford shale in 2008,
a region which has become the epicenter of shale operations in Texas.
Success and Opportunity in the Eagle Ford
Fayetteville Haynesville Eagle Ford Permian Other Combined
Acres
3.7 Billion
boe
2.0 Billion
boe
1.7 Billion
boe
0.7 Billion
boe
0.1 Billion
boe
8.0 Billion
boe
0
6,000
8,000
4,000
2,000
10,000
(MMboe)
Fayetteville Haynesville Eagle Ford Permian Other Combined
Acres
0.27 Million
acres
0.34 Million
acres
0.49 Million
acres
0.43 Million
acres
0.08 Million
acres
0
1,600
1,800
1,400
1,200
1,000
800
600
400
200
(ThousandAcres)
1.6 Million
acres
Resource Potential Net Acreage
Proved Reserves Non-Proved Resource Potential
36 Petroleum Annual Review 2012 Production – Unconventional 37
The Eagle Ford has since seen an extraordinary amount
of development as one of the premiere shale plays in
North America. With an attractive product mix of
condensate, natural gas liquids and net production of
over 50 percent liquids, the Eagle Ford shale is rated
as the lowest cost play among North American fields.
Shale gas exploration, development and production in the
Eagle Ford have contributed to the economic revitalization
of south Texas.
A May 2012 University of Texas at San Antonio study found
the shale gas revolution in 2011 alone generated just under
$20 billion in revenue, created 38,000 full-time jobs and put
$211 million into local government resources in the south
Texas region.
The 14 counties that make up the Eagle Ford are seeing new life
in response to the drilling boom. These communities are building
new schools and hospitals and launching training programs for
the local population to reap the benefits realized by shale oil
and gas development in the Eagle Ford. The study projects the
creation of up to nearly 116,000 full-time jobs by 2021.

21. Marketing
Marketing
Expertise
Our marketing activities in North America have
greatly increased with the successful integration
of Onshore US assets.
Petroleum’s Onshore US acquisitions have
increased the size of BHP Billiton’s gas
portfolio from one to 2.5 billion cubic feet per
day, and we anticipate natural gas sales will
be approximately 26 percent of our North
American revenue in financial year 2013.
Centralizing Operations in Houston
To capitalize on this growth and increase our marketing focus
in the US, we relocated our Petroleum marketing leadership
team from Singapore to Houston, Texas.
Consolidating operations in Houston aligns with our customer-
focused strategy by putting us in close proximity to US
customers and gives us firsthand exposure to the scale and
complexity of working onshore.
Petrohawk Acquisition
When we acquired Petrohawk in financial year 2012, we
created an integrated marketing team that is the foundation
of our strong onshore business.
We have since expanded our skill set and marketing capability
in onshore liquids transportation, midstream and downstream
systems to support the shift to liquids production from the
Eagle Ford field.
We continue to integrate the Petrohawk team’s knowledge
to make their success repeatable and scalable for the future.
Our customer base has expanded by 30 new condensate,
natural gas liquids and natural gas customers.
LNG Marketing in Australia
The BHP Billiton marketing team works closely with our
Petroleum development division on the production and
expansion of our operated projects, as well as monitoring
prospective developments such as the Scarborough and
Browse projects in Western Australia.
These projects are projected to help meet growing demand
for natural gas in strong Asian markets. We are actively
working to meet project timelines and engaging with
customers.
Houston, Texas: Consolidated marketing expertise and a customer-
focused strategy.
BHP Billiton Petroleum’s acquisition of assets in the Fayetteville, Haynesville,
Eagle Ford and Permian fields marked the unprecedented opportunity for
the company to display its ability to adapt to the market and thrive
regardless of economic conditions.
In financial year 2012, we adjusted our plans to focus
on oil rather than gas, while maintaining our
capability to ramp up in the future when natural
gas prices rebound.
BHP Billiton Petroleum’s focus remains on all of the evolving
onshore markets for shale oil, condensate, natural gas liquids
and natural gas.
Marketing works with the production units in the Eagle Ford
and Permian fields to ensure transport is available to customers
as we rapidly expand both fields.
Maximizing Opportunities
European Market
Asian Market
North American Market
Crude
Natural Gas
NGL
US Onshore
and Offshore
Australia
38%
59%
3%
UK
40%60%
Trinidad Tobago
87%
13%
Pakistan
Algeria
International Sales Flows
35%
58%
7%
26%
68%
6%
100%
Financial Year 2013 Projected Sales by Region and Product
Expanded Skill-Set: Our integrated marketing team is located at
BHP Billiton Petroleum’s Houston headquarters.
38 Petroleum Annual Review 2012 Marketing 39

22. J. Michael Yeager
Group Executive and
Chief Executive
David Powell
Chief Financial Officer
Rod Skaufel
President Conventional
Production
Leadership Team
A powerful platform built on a strong leadership
team with the experience and drive to take on
new opportunities.
BHP Billiton Petroleum
Dick Stoneburner
President North America
Shale Production
Nigel Smith
President Development
David Rainey
President Exploration
David Nelson
Vice President Human
Resources
40 Petroleum Annual Review 2012 BHP Billiton Petroleum Leadership Team 41

23. OPERATED
1 Australia – Minerva (90%):
An offshore gas field and plant producing gas
and condensate.
2 Australia – Stybarrow (50%):
An FPSO facility producing oil and gas from the Stybarrow
and Eskdale fields.
3 Australia – Pyrenees (40-71.4%):
An FPSO facility producing oil from the Crosby, Stickle
and Ravensworth fields.
4 Australia – Macedon (71.43%):
A domestic gas development with a stand-alone gas
plant. First production is expected in calendar year 2013.
5 Gulf of Mexico – Neptune (35%):
A permanently moored tension-leg platform that
produces oil and gas.
6 Gulf of Mexico – Shenzi (44%):
A stand-alone tension-leg platform that produces oil
and gas.
7 United Kingdom – Liverpool Bay (46.1%)/Bruce (16%)/
Keith (31.83%):
Offshore North Sea and Irish Sea oil and natural gas
production.
8 Trinidad and Tobago – Greater Angostura (45%):
An integrated oil and gas central processing platform.
9 Pakistan – Zamzama (38.5%):
An onshore gas and condensate development in the Sindh
Province, Pakistan.
10 Onshore US (1-100%)
Dry and wet gas production from shale fields in Texas,
Louisiana and Arkansas.
HEAD OFFICE
Houston, Texas
8
15
14
10
6
5
13
NON OPERATED
11 Australia – Bass Strait (50%):
20 producing oil and gas fields with 21
offshore structures.
12 Australia – North West Shelf (8.3-16.7%):
Supplies oil and gas to Australian and
international markets.
13 Gulf of Mexico – Atlantis (44%):
A permanently moored semi-submersible platform that
produces oil and gas.
14 Gulf of Mexico – Mad Dog (23.9%):
A permanently moored integrated truss spar facility
producing oil and gas.
15 Gulf of Mexico – Genesis (5%):
A floating cylindrical hull (spar) producing oil and gas.
16 Africa – ROD Integrated Development (38%):
Development and production of six oil fields located
onshore in the Berkine Basin, Algeria.
EXPLORATION
Western Australia
Gulf of Mexico
Southeast Asia
India
South Africa
1
11
4
12
3
2
9
16
7
We operate in some of the finest regions in the world for oil and gas opportunities. We have built a
large, advantaged and flexible resource base with a material position in key regions. Our success is
scalable and can be replicated. We can go anywhere, any time.
42 Petroleum Annual Review 2012
BHP Billiton Petroleum
Global Operations Map
Global Overview 43

24. Neptune, Gulf of Mexico
A BHP Billiton Petroleum operated permanently moored tension leg
platform in the Gulf of Mexico
An Industry
Leader
BHP Billiton Petroleum is an industry leader in deepwater
drilling and production and a leading shale producer.
We continue to invest in our business by maintaining
a long-term view.
We have built a powerful platform which gives us the
ability to grow in multiple directions, with endless
opportunities for success.
44 Petroleum Annual Review 2012

25. BHP Billiton Petroleum
1360 Post Oak Boulevard, Suite 150
Houston, Texas 77056
United States of America
Phone: 1.713.961.8500
Fax: 1.713.961.8400
www.bhpbilliton.com