BHP Billiton increases Falkland Islands interest

Offshore staff

LONDON -- BHP Billiton has increased its interests in Falkland Oil & Gas' 2002 and 2004 licenses to the south and east of the Falkland Islands. BHP Billiton will increase its interest from 40% to 51% for $2.75 million.

"BHP Billiton's decision to increase its interests in our licenses further confirms our view that the South and East Falkland basins are highly prospective and have the potential for the discovery of significant volumes of oil and gas," says Tim Bushell, chief executive of Falkand Oil & Gas.

11/28/2007