Production
In April 2008, BHP was producing 400,000 barrels of oil equivalent per day, up from the 2007 average of 320,00 boe per day.
Reserves
BHP Billiton’s proved reserves at 1,353 MMboe remain approximately the same as last year. For the 2007 fiscal year, the company’s proved reserves replacement ratio from all sources (excluding purchases and sales of producing assets) was 103 per cent of production levels. The average reserves replacement (excluding purchases and sales) for the last three years has been 96 per cent of production. The major changes to reserves included the following: Australia/Asia - Initial reserves booking for the Pyrenees oil development offshore northwest Australia, which includes the development of the Ravensworth, Crosby and Stickle fields. Americas - Initial booking of the proved reserves for the Angostura gas development offshore Trinidad and Tobago, which will develop gas from the Canteen, Kairi and Aripo fields.