BHP Group Limited — Capital/Financing Update 2008

Jul 6, 2008

ASX ANNOUNCEMENT

Monday, 7 July 2008

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NEPTUNE PROJECT BEGINS PRODUCTION

Woodside advises that first oil and natural gas production has commenced from the Neptune Project in the deepwater Gulf of Mexico, United States.

The Neptune Project, operated by BHP Billiton, consists of a tension leg platform installed in 1300 metres of water, located in Green Canyon Block 613. Field development includes six initial subsea wells tied back to the platform.

The platform has a capacity of up to 50,000 barrels of oil a day and 50 million cubic feet of gas a day. Production will be initially from one well, and will increase sequentially as other producers are brought on line. Further development wells are expected to be drilled after the acquisition and interpretation of new seismic data, which will be obtained in the latter half of 2008.

First production from Neptune comes after our Power Play development (Woodside interest: 20%) was brought on line in June, giving Woodside its first two deepwater producing fields in the Gulf of Mexico.

Woodside has a 20% interest in Neptune through its wholly-owned subsidiary Woodside Energy (USA) Inc. BHP Billiton has a 35% interest and is operator of the project. Other participants are Marathon Oil Company (30%) and Maxus (US) Exploration Company (15%).

Contacts:

MEDIA

Roger Martin

W: + 61 8 9348 4591 M: + 61 413 018 674 E: roger.martin@woodside.com.au

INVESTORS

Mike Lynn W: + 61 8 9348 4283 M: + 61 439 691 592

E: investor@woodside.com.au