BHP approves $2.2bn investment for Mad Dog 2 development

Diversified miner BHP Billiton has approved a $2.2-billion investment for its share of the Mad Dog Phase 2 development, in the Gulf of Mexico. The Mad Dog Phase 2 project, in which BHP holds a 23.9% interest, is a southern and south-western extension of the existing Mad Dog field, and includes a new floating production facility with the capacity to produce up to 140 000 gross barrels of crude oil a day from 14 production wells.