http://www.theaustralian.news.com.au/story...5005200,00.html

Production starts at BHP-operated Neptune
July 07, 2008

OIL and gas production has begun at the Neptune project in the Gulf of Mexico, after unspecified anomalies delayed its March start-up

The Neptune production facility, operated by BHP Billiton (ASX: BHP: quote), has design capacity of up to 50,000 barrels of oil and 50 million cubic feet of gas per day.

Neptune, a tension leg platform in deep water where the floating structure is held in place by tendons fixed to the ocean floor, was in the process of being commissioned when workers were evacuated in March after a visual inspection of the hull revealed unspecified anomalies.

BHP had announced in April the start-up for the development, BHP Billiton's first operated oil and gas facility, would be delayed till about mid-year.

The delays were forecast to cost Australian partners BHP Billiton and Woodside Petroleum millions of dollars in lost production.

Woodside said shortly after the platform was evacuated that it expected to lose 150,000 barrels for each month Neptune was not operating.

BHP holds a 35 per cent stake in Neptune, with Marathon holding 30 per cent, Woodside (ASX: WPL: quote) 20 per cent and Maxus Exploration has 15 per cent.

The project is 120 miles off the Louisiana coast.
Politicians don't produce energy, investors and rough-necks do.