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DG Year End Presentation

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Year End Presentation for DG Company

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DG Year End Presentation

  1. 1. FY 2009 END-OF-YEAR RESULTS August 27, 2009 David Goodall Chief Executive Petroleum Steven Schulenberg President, Production Byron Grigsby President, Development Barry Bettes President, Exploration Slide 1 Slide
  2. 2. Disclaimer <ul><li>Purpose of Presentation </li></ul><ul><li>This presentation is strickly for the use of observing David Goodall’s abilities within the PowerPoint presentation arena. </li></ul><ul><li>Any information shown will be fictitious and obscured for confidentiality. </li></ul>
  3. 3. DG Company – Full Year Results FY 2009 <ul><li>DG Company Corporate Results </li></ul><ul><li>DG Company Petroleum Results </li></ul><ul><li>Accomplishments and Path Forward by Divisions </li></ul><ul><li>Scorecard </li></ul>Slide
  4. 4. DG Company – Financial Highlights <ul><li>Underlying EBITDA of $22.3 billion </li></ul><ul><li>Underlying EBIT of $18.2 billion </li></ul><ul><li>Attributable profit (excluding exceptionals) of $10.7 billion </li></ul><ul><li>Record cash flow of $18.9 billion </li></ul><ul><li>Earnings per share (excluding exceptionals) 192.7 US cents </li></ul><ul><li>Final dividend of 41 US cents, taking the full year dividend to 82 US cents, up 17.1% on last year </li></ul><ul><li>Strong financial position – Net gearing at 12.1% </li></ul>
  5. 5. DG Company – Financial Highlights <ul><li>Underlying EBITDA of $XX.X billion </li></ul><ul><li>Underlying EBIT of $XX.X billion </li></ul><ul><li>Attributable profit (excluding exceptionals) of $XX.X billion </li></ul><ul><li>Record cash flow of $XX.X billion </li></ul><ul><li>Earnings per share (excluding exceptionals) XXX.X US cents </li></ul><ul><li>Final dividend of XX US cents, taking the full year dividend to XX US cents, up XX.X% on last year </li></ul><ul><li>Strong financial position – Net gearing at XX.X% </li></ul>
  6. 6. Strong Cash Flow – Delivering Value to Shareholders (a) Includes capital and exploration expenditures (excludes acquisitions). FY2005 to FY2009 have been calculated on the basis of IFRS. Prior periods have been calculated on the basis of UKGAAP. FY2007 to FY2009 cashflow reflects proportional consolidation of joint ventures. Net Operating Cash Flow (US$bn) Organic Growth (a) (US$bn) Return to Shareholders (US$bn) CAGR: XX% CAGR: XX% Dividends CAGR: XX%
  7. 7. Underlying EBIT by Customer Sector Group 24,282 18,214 BHP Billiton (Total) (390) (395) Group & Unallocated Items 1,057 1,460 Energy Coal 937 4,711 Metallurgical Coal 1,644 1,349 Manganese 4,631 6,229 Iron Ore 1,275 (854) Stainless Steel Materials 189 145 Diamonds & Specialty Products 7,989 1,292 Base Metals (including Uranium) 1,465 192 Aluminium 5,485 4,085 Petroleum 2008 2009 Year Ended June (US$m)
  8. 8. Underlying EBIT by Customer Sector Group XXX,XXX XX,XXX BHP Billiton (Total) (XXX) (XXX) Group & Unallocated Items X,XXX X,XXX Energy Coal XXX X,XXX Metallurgical Coal X,XXX X,XXX Manganese X,XXX X,XXX Iron Ore X,XXX (XXX) Stainless Steel Materials XXX XXX Diamonds & Specialty Products X,XXX X,XXX Base Metals (including Uranium) X,XXX XXX Aluminium X,XXX X,XXX Petroleum 2008 2009 Year Ended June (US$m)
  9. 9. Petroleum Performance within DG Company 8 - $8.1Billion 3 Projects - $2.6Billion <ul><li>Projects Under Development </li></ul>$18.2 $4.1 <ul><li>EBIT $USD-billions </li></ul>4 - $5.9Billion 3 Projects - $1.1Billion <ul><li>New Projects Sanctioned </li></ul>7 - $4.1Billion 5 Projects - $3.1Billion <ul><li>Projects Started Up </li></ul>$1.2 $0.5 <ul><li>Exploration Spent-billions </li></ul>$9.5 $1.9 <ul><li>Capex Spent-billions </li></ul>40.0% 58.2% <ul><li>EBIT Margin </li></ul>Corporate Petroleum
  10. 10. Petroleum Performance within DG Company X - $X.XBillion X Projects - $X.XBillion <ul><li>Projects Under Development </li></ul>$XX.X $X.X <ul><li>EBIT $USD-billions </li></ul>X - $X.XBillion X Projects - $X.XBillion <ul><li>New Projects Sanctioned </li></ul>X - $X.XBillion X Projects - $X.XBillion <ul><li>Projects Started Up </li></ul>$X.X $X.X <ul><li>Exploration Spent-billions </li></ul>$X.X $X.X <ul><li>Capex Spent-billions </li></ul>XX.X% XX.X% <ul><li>EBIT Margin </li></ul>Corporate Petroleum
  11. 11. DG Company – Performance <ul><ul><li>“ Oil, is the important differentiating factor compared to BHP’s competitors, which do not have this positive exposure….” </li></ul></ul><ul><ul><li>- Financial Times </li></ul></ul><ul><ul><li>12 Aug. 2009 </li></ul></ul>$ 8.66 $ 9.64 <ul><li>Non Cash/barrel </li></ul>129.50 137.20 <ul><li>Production – MM Bbls/Yr </li></ul>$ 96.27 $ 66.18 <ul><li>Realized Oil Price (US$/bbl) </li></ul>$ 0.69 $ 0.55 <ul><li>Exploration Spend-billions </li></ul>$ 2.11 $ 1.91 <ul><li>Capital Spend-billions </li></ul>$ 42.47 $ 29.75 <ul><li>EBIT/bbl </li></ul>$ 6.14 $ 5.50 <ul><li>Opex/barrel </li></ul>2008 2009
  12. 12. DG Company – Performance <ul><ul><li>“ Oil is the important differentiating factor compared to DG’s competitors, which do not have this positive exposure….” </li></ul></ul><ul><ul><li>- Financial Times </li></ul></ul><ul><ul><li>12 Aug. 2009 </li></ul></ul>$ X.XX $ X.XX <ul><li>Non Cash/barrel </li></ul>XXX.XX XXX.XX <ul><li>Production – MM Bbls/Yr </li></ul>$ XX.XX $ XX.XX <ul><li>Realized Oil Price (US$/bbl) </li></ul>$ X.XX $ X.XX <ul><li>Exploration Spend-billions </li></ul>$ X.XX $ X.XX <ul><li>Capital Spend-billions </li></ul>$ XX.XX $ XX.XX <ul><li>EBIT/bbl </li></ul>$ X.XX $ X.XX <ul><li>Opex/barrel </li></ul>2008 2009
  13. 13. DG Company – Volume Growth 2007-2009 * excludes oil sands mining Where we are today 355 BHBP 23 390 Hess 19 399 Marathon 17 . . . 536 Apache 15 562 Anadarko 14 . . . Production (Average KBOE/Day) Company IOC World Ranking (2008 Volumes) BP ExxonMobil 4,069 1 3859 2
  14. 14. DG Company – Volume Growth 2007-2009 * excludes oil sands mining Where we are today XXX Company 23 23 XXX Company 19 19 XXX Company 17 17 . . . XXX Company 15 15 XXX Company 14 14 . . . Production (Average KBOE/Day) Company IOC World Ranking (2008 Volumes) Company 2 Company 1 X,XXX 1 X,XXX 2
  15. 15. <ul><li>Zero Harm </li></ul><ul><ul><li>Record safety performance </li></ul></ul><ul><li>Volume Growth </li></ul><ul><ul><li>Record production volumes </li></ul></ul><ul><li>Costs </li></ul><ul><ul><li>Costs per barrel controlled as per budget </li></ul></ul><ul><li>Expanding Our Operation </li></ul><ul><ul><li>4 major operated projects started up over 3 years </li></ul></ul><ul><ul><li>Pyrenees & Angostura still to come </li></ul></ul><ul><li>Reserve Replacement </li></ul><ul><ul><li>Over 100% of production replaced </li></ul></ul><ul><li>New Opportunities </li></ul><ul><ul><li>Establishing new positions in India, Vietnam & Philippines </li></ul></ul><ul><ul><li>Now active in 14 countries </li></ul></ul><ul><li>Growing Organizational Capacity </li></ul><ul><ul><li>800 New Employees in last 3 years </li></ul></ul><ul><ul><li>More functional depth across Petroleum </li></ul></ul>DG Company – Highlights FY 2009
  16. 16. <ul><li>Zero Harm </li></ul><ul><ul><li>Record safety performance </li></ul></ul><ul><li>Volume Growth </li></ul><ul><ul><li>Record production volumes </li></ul></ul><ul><li>Costs </li></ul><ul><ul><li>Costs per barrel controlled as per budget </li></ul></ul><ul><li>Expanding Our Operation </li></ul><ul><ul><li>X major operated projects started up over X years </li></ul></ul><ul><ul><li>Project 1 & Project 2 still to come </li></ul></ul><ul><li>Reserve Replacement </li></ul><ul><ul><li>Over 100% of production replaced </li></ul></ul><ul><li>New Opportunities </li></ul><ul><ul><li>Establishing new positions in Country 1, Country 2 & Country 3 </li></ul></ul><ul><ul><li>Now active in XX countries </li></ul></ul><ul><li>Growing Organizational Capacity </li></ul><ul><ul><li>XXX New Employees in last X years </li></ul></ul><ul><ul><li>More functional depth across Petroleum </li></ul></ul>DG Company – Highlights FY 2009
  17. 17. DG Company – HSE Performance <ul><li>Best Petroleum performance ever </li></ul><ul><li>Best among DG companies </li></ul><ul><li>Excellent performance against peers * </li></ul><ul><li>60% reduction in Zero Barrier incidents </li></ul><ul><li>Liquids spills reduced to 3.7 barrels </li></ul><ul><li>All in a year of very high activity: </li></ul><ul><ul><li>Drilling in 5 countries </li></ul></ul><ul><ul><li>2 project start-ups </li></ul></ul><ul><ul><li>8 in-field exploration activities </li></ul></ul>Slide 9 * OGP Safety Performance Indicators Report No 419, May, 2009 Total Recordable Incident Frequency Rate 1.0 0.0 2.0 3.0 4.0 5.0 2006 2007 2008 2009 X. XX Lost Time Incident Frequency Rate 0.5 0.0 1.0 1.5 2.0 2.5 2006 2007 2008 2009 X.XX X.XX X.XX X X.XX X.XX X.XX
  18. 18. Lost-Time Injury Frequency DG Company We were the only company in this industry ranking that achieved zero LTIs.
  19. 20. Production Division – Achievements <ul><li>Safety – 85% Reduction in Recordable Incidents </li></ul><ul><li>Volumes – 316,000/day in 2007 to 475,000/day in July </li></ul><ul><li>Performance - >94% Facility/Well Uptime </li></ul><ul><li>Reserves - >100% Replacement </li></ul><ul><li>Operating Costs - Top Decile </li></ul>
  20. 21. Production Division – Achievements <ul><li>Safety – XX% Reduction in Recordable Incidents </li></ul><ul><li>Volumes – XXX,XXX/day in 2007 to XXX,XXX/day in July </li></ul><ul><li>Performance - >XX% Facility/Well Uptime </li></ul><ul><li>Reserves - >XXX% Replacement </li></ul><ul><li>Operating Costs - Top Decile </li></ul>
  21. 22. Safety Milestones <ul><li>Trinidad: Incident free year in FY2009 </li></ul><ul><li>Australia: Reduced TRIR from 16.0 in 2007 to Zero today </li></ul><ul><li>Pakistan: 8 years Lost-Time Incident-free </li></ul><ul><li>Algeria: 1,000 days Lost-Time Incident-free </li></ul><ul><li>UK: 3 years Lost-Time Incident-free </li></ul><ul><li>GOM: 16 years Lost-Time Incident-free </li></ul>
  22. 23. Safety Milestones <ul><li>Country 1: Incident free year in FY2009 </li></ul><ul><li>Country 2: Reduced TRIR from XX.X in 2007 to Zero today </li></ul><ul><li>Country 3: X years Lost-Time Incident-free </li></ul><ul><li>Country 4: X,XXX days Lost-Time Incident-free </li></ul><ul><li>Country 5: X years Lost-Time Incident-free </li></ul><ul><li>Country 6: XX years Lost-Time Incident-free </li></ul>
  23. 24. Gulf Of Mexico Production 0 20 40 60 80 100 120 140 FY05 FY06 FY07 FY08 FY09 YTD FY10 kboe per day Jan 05 Jul 08 Oct 07 Mar 09
  24. 25. BHPB Operated Uptime Performance 94.2% Uptime Stybarrow 93% Trinidad 95% West Cam 96% Neptune 97% Pakistan 98% Ohanet 98% Minerva 99% UK 90%
  25. 26. Big Oil West South East Big Oil South appraisal well & sidetrack North Graben 1 mi. Big Oil West appraisal well <ul><li>Resources </li></ul><ul><li>Base - 2007: X.X billion </li></ul><ul><li>West - 2008: +X.X billion </li></ul><ul><li>South - 2009: +X.X billion </li></ul><ul><li>North: more to come? </li></ul><ul><li>Total: X.X billion </li></ul><ul><li>Major Oil Total: X.X billion </li></ul>
  26. 27. Production Division – Moving Forward <ul><li>Achieve Zero Harm </li></ul><ul><li>Strive for 100 / 100 / 100 </li></ul><ul><li>Execute aggressive Development Drilling Program - $740MM </li></ul><ul><li>Start up Pyrenees FPSO 1st half of 2010 </li></ul><ul><li>Develop and drill the huge Atlantis & Mad Dog reserves </li></ul><ul><li>Replace 100% reserves in a rapidly growing business </li></ul>
  27. 28. Production Division – Moving Forward <ul><li>Achieve Zero Harm </li></ul><ul><li>Strive for 100 / 100 / 100 </li></ul><ul><li>Execute aggressive Development Drilling Program - $XXXMM </li></ul><ul><li>Start up Drill Site 1 FPSO 1st half of 2010 </li></ul><ul><li>Develop and drill the huge Drill Site 2 & Drill Site 2 reserves </li></ul><ul><li>Replace 100% reserves in a rapidly growing business </li></ul>
  28. 30. Development Division Achievements <ul><li>Shenzi </li></ul><ul><ul><li>Startup 3 months early; above design capacity </li></ul></ul><ul><li>NWS </li></ul><ul><ul><li>Started up LNG Train 5 and Angel </li></ul></ul><ul><li>Pyrenees </li></ul><ul><ul><li>Recovering schedule, FPSO construction and sub-sea installation </li></ul></ul><ul><li>Angostura </li></ul><ul><ul><li>In construction and on track </li></ul></ul><ul><li>Macedon </li></ul><ul><ul><li>Final design in progress </li></ul></ul><ul><li>Drilling </li></ul><ul><ul><li>Completed Pakistan and Algeria Programs </li></ul></ul><ul><ul><li>Excellent Performance at Mad Dog South </li></ul></ul><ul><ul><li>Significant accomplishments at Pyrenees </li></ul></ul>
  29. 31. Development Division Achievements <ul><li>Drill Site 1 </li></ul><ul><ul><li>Startup 3 months early; above design capacity </li></ul></ul><ul><li>Drill Site 2 </li></ul><ul><ul><li>Started up LNG Drill 1 and Drill 2 </li></ul></ul><ul><li>Drill Site 3 </li></ul><ul><ul><li>Recovering schedule, FPSO construction and sub-sea installation </li></ul></ul><ul><li>Drill Site 4 </li></ul><ul><ul><li>In construction and on track </li></ul></ul><ul><li>Drill Site 5 </li></ul><ul><ul><li>Final design in progress </li></ul></ul><ul><li>Drill Site 6 </li></ul><ul><ul><li>Completed Country 1 and Country 1 Programs </li></ul></ul><ul><ul><li>Excellent Performance at Drill 7 South </li></ul></ul><ul><ul><li>Significant accomplishments at Drill 8 </li></ul></ul>
  30. 32. HSE - Continually Striving for Excellence <ul><li>No Hands Lifting </li></ul><ul><li>Used first at Country 1 </li></ul><ul><li>Thought it COULDN’T BE DONE </li></ul><ul><li>Only X out of XXX operations needed hands </li></ul><ul><li>NO INJURIES </li></ul><ul><li>FASTER </li></ul> After Before
  31. 33. <ul><li>Biggest single capital investment by DG Company - EVER </li></ul><ul><li>$X.X billion spent to date. $X.X billion to go. </li></ul>Large Oil – Delivered Sooner and Better
  32. 34. <ul><li>Biggest single capital investment by BHP Billiton - EVER </li></ul><ul><li>$2.5 billion spent to date. $1.9 billion to go. </li></ul>Large Oil – Delivered Sooner and Better
  33. 35. Drilling – Continuing to Raise the Bar <ul><li>Industry leading HSE performance </li></ul><ul><li>Initiatives often last longer than our tenure </li></ul><ul><li>Best-in-class drilling performance being achieved in all operations </li></ul><ul><li>Wells are not just fast, they deliver the barrels too! </li></ul>
  34. 36. Drilling – Continuing to Raise the Bar <ul><li>Industry leading HSE performance </li></ul><ul><li>Initiatives often last longer than our tenure </li></ul><ul><li>Best-in-class drilling performance being achieved in all operations </li></ul><ul><li>Wells are not just fast, they deliver the barrels too! </li></ul>
  35. 37. Moderate Oil – Delivering Our Next Challenge
  36. 38. <ul><li>Operated Projects </li></ul><ul><ul><li>Angostura Gas – Keep on track, integrate NGC activity </li></ul></ul><ul><ul><li>Macedon – Progress to Sanction, Conclude Gas Spec Issue and Sales Contracts </li></ul></ul><ul><li>OBO Projects </li></ul><ul><ul><li>NWS – Assist NR2 and CWLH Recovery </li></ul></ul><ul><ul><li>Bass Strait – Monitor Kipper and Turrum </li></ul></ul><ul><ul><li>Mad Dog – Progress New Rig, MD West and MD South Development Options </li></ul></ul><ul><ul><li>Scarborough – Narrow from 3 to 1 Development Options </li></ul></ul><ul><ul><li>Browse – Work Both B2B and B2K Select Decision </li></ul></ul><ul><li>Drilling </li></ul><ul><ul><li>Complete Pyrenees Program </li></ul></ul><ul><ul><li>Success in new campaigns at Liverpool Bay and Sabah </li></ul></ul><ul><li>Supply </li></ul><ul><ul><li>Deliver the iSet project to the business </li></ul></ul>Development Division – Moving Forward
  37. 39. <ul><li>Operated Projects </li></ul><ul><ul><li>Drilling Site 1 – Keep on track, integrate NGC activity </li></ul></ul><ul><ul><li>Drilling Site 2 – Progress to Sanction, Conclude Gas Spec Issue and Sales Contracts </li></ul></ul><ul><li>OBO Projects </li></ul><ul><ul><li>Drilling Site 3 – Assist NR2 and CWLH Recovery </li></ul></ul><ul><ul><li>Drilling Site 4 – Monitor Kipper and Turrum </li></ul></ul><ul><ul><li>Drilling Site 5 – Progress New Rig, MD West and MD South Development Options </li></ul></ul><ul><ul><li>Drilling Site 6 – Narrow from 3 to 1 Development Options </li></ul></ul><ul><ul><li>Browse – Work Both B2B and B2K Select Decision </li></ul></ul><ul><li>Drilling </li></ul><ul><ul><li>Complete Drilling Site 7 Program </li></ul></ul><ul><ul><li>Success in new campaigns at Drilling Site 8 and Sabah </li></ul></ul><ul><li>Supply </li></ul><ul><ul><li>Deliver the iSet project to the business </li></ul></ul>Development Division – Moving Forward
  38. 41. Exploration: Building Our Future <ul><li>Record acreage and seismic spending </li></ul><ul><li>Capturing material / high quality opportunities </li></ul><ul><li>Aggressively maturing & preparing to drill </li></ul>
  39. 42. Laying the Foundation <ul><li>Seismic acquisition </li></ul><ul><ul><li>Harsh environments, outstanding HSE performance </li></ul></ul><ul><ul><li>Industry leader in multi azimuth acquisition techniques </li></ul></ul><ul><ul><li>Since FY06-$XXXMM on acquisition; $XXXMM on processing </li></ul></ul><ul><ul><ul><li>Acquired XX,XXX line km of 2D and XX,XXXkm 2 3D </li></ul></ul></ul><ul><ul><ul><ul><li>All current and future key areas covered </li></ul></ul></ul></ul><ul><li>World-class subsalt imaging capabilities </li></ul><ul><ul><li>Benchmarked with industry </li></ul></ul><ul><ul><li>State of the art techniques and processes </li></ul></ul><ul><ul><li>Competitive advantage in subsalt, foldbelts </li></ul></ul><ul><li>Partner with IT to enhance our capabilities </li></ul><ul><ul><li>Integrated hardware/software strategy </li></ul></ul><ul><ul><li>Data management & security </li></ul></ul>Falkland Islands
  40. 43. Opportunity Capture Material, High Quality, Focused <ul><li>Built experienced New Ventures organization </li></ul><ul><ul><li>Global remit, but focused </li></ul></ul><ul><ul><li>Rigorous basin analysis – “starts with the rocks” </li></ul></ul><ul><ul><li>Have established material position in Country 10 </li></ul></ul><ul><ul><ul><li>Country 11 and Country 12 </li></ul></ul></ul><ul><li>Exploration teams have captured key, new acreage in core basins </li></ul><ul><ul><li>Drilling Site 10 – spent $XXXMM, XXX/XXX (XX%) blocks won; control 2 key plays </li></ul></ul><ul><ul><li>Drilling Site 11 – WA-335-P </li></ul></ul><ul><li>Legal and L&UA – vital skills to obtain contracts, terms </li></ul><ul><li>2006 to 2009 </li></ul><ul><ul><li>Acreage (km 2 ) +XX% to XXX,XXXkm 2 </li></ul></ul><ul><ul><li>Control </li></ul></ul><ul><ul><ul><li>Operated % +XX% to XX% </li></ul></ul></ul><ul><ul><ul><li>Working Interest % +XX% to XX% </li></ul></ul></ul>Block 5 Onshore Country 13
  41. 44. Maturing & Executing the Portfolio: Delivering on Commitments <ul><li>Focus on maturation and Ready to Drill </li></ul><ul><ul><li>Risked portfolio volume increased by +XX% (XXX MMBOE) </li></ul></ul><ul><ul><li>“ Project” maturation plans in place for each piece of acreage </li></ul></ul><ul><li>Meet our strategic commitment </li></ul><ul><ul><li>Drill X-X “High Impact” wells & test X-X new plays per year </li></ul></ul><ul><li>FYXX/XX/XX – Drilling up to XX wells across X countries </li></ul>Jun-08 Jun-09 Risked MMboe 0 200 400 600 800 1000 1200 1400 1600 Captured Pending Drilling Spend Portfolio Volume DG Affiliated Deepwater Expedition 0 100 200 300 400 500 FY07 FY08 FY09 FY10 FY11 $MM
  42. 45. FY10-FY11 – Proposed Drilling Campaign Canadian Laurentian 1 well planned Gulf of Mexico 6 wells planned NWS Australia 4 wells planned Malaysia 4 wells planned Philippines 2 wells planned Vietnam 2 wells planned Gippsland 3 wells planned Falklands 2 wells planned
  43. 46. FY10 – A Challenging and Exciting Year! <ul><li>HSE – New challenges & operating environments </li></ul><ul><li>FY10/FY11 Focus on Exploration Drilling </li></ul><ul><ul><li>Resource replacement critical to replace increasing production levels </li></ul></ul><ul><li>Continued Opportunity Capture and Maturation Focus </li></ul><ul><ul><li>Must continue to high grade, balance risk/reward and deliver on commitments </li></ul></ul><ul><li>Managing a Global, Operated Portfolio </li></ul><ul><ul><li>Extensive drilling program, multiple new country entries will require multi-functional support to be successful </li></ul></ul>
  44. 47. FY10 – A Challenging and Exciting Year! <ul><li>HSE – New challenges & operating environments </li></ul><ul><li>FY10/FY11 Focus on Exploration Drilling </li></ul><ul><ul><li>Resource replacement critical to replace increasing production levels </li></ul></ul><ul><li>Continued Opportunity Capture and Maturation Focus </li></ul><ul><ul><li>Must continue to high grade, balance risk/reward and deliver on commitments </li></ul></ul><ul><li>Managing a Global, Operated Portfolio </li></ul><ul><ul><li>Extensive drilling program, multiple new country entries will require multi-functional support to be successful </li></ul></ul>
  45. 48. Wrap Up
  46. 49. FY2009 Scorecard Results XX.X% X.X% X.X% X.X% XX.X% XX.X% XX.X% XX.X% X.X% XX.X% XX.X% XX.X% XXX.X% capital & schedule million boe million boe US$ million US$ per boe US$ per boe million boe US$ million per million hours per million hours XXX% Total XX% Average result Individual Components XX% CSG Components XX% XXX% XXX% Development Projects Index X% XX.X XXX Resource Additions X% XXX.X XXX Reserves Additions X% XXX.X XXX Direct G&A Costs X% X.XX XX.XX Depreciation Rate X% X.XX X.XX Field Operating Cost Rate XX% XXX.X XXX.X Production Volume XX% X,XXX X,XXX EBIT (excluding price and FX effects) X% X.XX X.XX Zero Barrier Incident Frequency Rate XX% X.XX X.XX Total Recordable Incident Frequency Rate Score Weighting Result Target Item
  47. 50. Investment in Our Employees <ul><li>Career ladders </li></ul><ul><ul><li>A road map for career progression – transparency </li></ul></ul><ul><li>Competency development </li></ul><ul><ul><li>Tools for developing functional excellence </li></ul></ul><ul><li>110% Jobs </li></ul><ul><ul><li>Career management through functional “homes” </li></ul></ul><ul><li>Supervisory Toolkit </li></ul><ul><ul><li>Assuring the fundamentals of managing people </li></ul></ul><ul><li>Executive Leadership Program </li></ul><ul><ul><li>Building executive leadership capacity and alignment </li></ul></ul>“ I make a difference.”
  48. 51. BHP Billiton Petroleum – Summary - DLG <ul><li>Excellent performance – Safety, Volumes, Costs, Projects, Reserves </li></ul><ul><li>Shareholder impacted – first downturn in 10 years </li></ul><ul><li>Invest through the cycle </li></ul><ul><li>More is expected in FY10 </li></ul><ul><li>We need your Best. </li></ul>

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