金融英语阅读：BHP approves 1.5 bln USD Western Australia gas project

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　　CANBERRA, Sept. 24 -- BHP Billiton Friday approved the development of the 1.5 billion U.S. dollars Macedon gas field off the coast of Exmouth in Western Australia (WA).
3 L8 f  y% I; ?; |! n1 b/ T' W　　BHP said it expects first production from its Macedon gas development, a joint venture with Apache Northwest Pty, in 2013.
　　Recoverable reserves are estimated at between 400 and 750 billion cubic feet of gas from the project.
2 }- X! t9 k. O. x& F　　The Macedon project involves four offshore production wells supplying a wet gas pipeline to an onshore gas treatment plant to be constructed at Ashburton North, 17 km south-west of Onslow of WA.
5 Y# z4 H9 j+ Z5 A7 f& ?; L9 y9 k4 P　　According to BHP, a sales gas pipeline will be connected to the Dampier to Bunbury Natural Gas Pipeline for sale to the domestic gas market in WA.
- _6 [, @; C. z6 a　　BHP will provide 71.43 percent of the project cost, or 1.05 billion U.S. dollars, with the balance funded by joint venture partner Apache Northwest.