Exxon, BHP to Build A$1.4 Billion Australia Project (Update2)
By Angela Macdonald-Smith
July 25 (Bloomberg) -- Exxon Mobil Corp. and BHP Billiton Ltd. approved spending about A$1.4 billion ($1.3 billion) on a project off Australia's southeast coast to gain from rising gas demand as the nation seeks cleaner alternatives to coal.
Construction of the Turrum development will start next year, allowing oil production to start up in 2011, followed by gas sales in 2015, the Australian unit of Exxon, the world's largest oil company, said today.
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exxon bhp to build 1.4 billion gas project
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