Acq Int in 27 Blocks - GOM

BHP Billiton Limited
21 March 2002

     BHP Billiton Limited is issuing this announcement to fulfil disclosure
  obligations arising from its secondary listing on the London Stock Exchange.

    The text of this release is identical to that issued by BHP Billiton Plc
                                    earlier.



21 March 2002

Ref Number: 17/02



                  BHP BILLITON ACQUIRES INTERESTS IN 27 BLOCKS
                    IN CENTRAL GULF OF MEXICO LEASE SALE 182
                   


BHP Billiton today announced it was the high bidder for 27 blocks in the Outer
Continental Shelf, Central Gulf of Mexico Lease Sale 182. The sale was conducted
in New Orleans on 20 March by the Minerals Management Service (MMS), a bureau of
the U.S. Department of the Interior.



BHP Billiton's winning bids, including both the net amount in partnership
arrangements and as a 100 per cent interest-holder, are valued at approximately
US$15.2 million, or nearly US$562,000 per block.



Completion of the sale is expected within the next few months, pending bid
review and approval by the MMS. A majority of the blocks (24 out of 27)
successfully bid on are eligible for deepwater royalty relief on oil and natural
gas production as outlined by the MMS.



President BHP Billiton Deepwater Exploration Steve Bell said: 'Purchasing these
blocks is an integral part of our focused deepwater exploration strategy in the
Gulf of Mexico.'



'Several blocks we've acquired provide near-field prospects in the Green Canyon
play fairway, where we have established infrastructure at our Typhoon production
facility.  Other leases will help replenish our exploration portfolio with
opportunities in the Central Gulf region, which is an area that we have
extensive experience and proprietary knowledge.'



BHP Billiton is one of the most active explorers/producers in the deepwater
Central Gulf of Mexico. With interests in more than 250 blocks, the Group ranks
in the top 10 leaseholders.



In the north-central Green Canyon area, BHP Billiton was a successful bidder on
GC 195 with a 100 per cent working interest.  In a joint bid with ChevronTexaco
(20 per cent) and Noble Affiliates' Samedan Oil Corp (25 per cent), BHP Billiton
will acquire a 55 per cent interest in GC 238.




Both blocks are located in water depths approaching 700 meters, and are
strategically situated near BHP Billiton's Typhoon field mini-Tension Leg
Platform. An additional 100 per cent working interest was successfully bid on 
GC 544, located in 1,200 meters of water.



BHP Billiton also was the successful high bidder on three 100 per cent working
interest blocks in the western Atwater Foldbelt trend.  GC 915 is located in
2,200 meters of water, six miles south of the Group's recently sanctioned Mad
Dog field. Atwater Valley Blocks 354 and 355 are located in 1,100 meters of
water, 15 miles north of the Neptune field discovery.



In partnership with Nexen Inc., BHP Billiton will purchase 19 blocks (14 in the
Green Canyon play fairway) located in water depths ranging from 100 to 1,650
meters. Working interests in 12 of the 14 Green Canyon blocks will be 50-50,
while the remaining two blocks were bid with BHP Billiton holding a 60 per cent
interest and Nexen holding 40 per cent.



Additionally, BHP Billiton and Nexen were successful high bidders on five blocks
in the northern Atwater Valley and southern Mississippi Canyon areas, with BHP
Billiton holding a 75 per cent working interest and Nexen having a 25 per cent
working interest. These blocks are located in water depths ranging from 1,340 to
1,800 meters.



With Kerr-McGee Oil & Gas Corp. and Ocean Energy, BHP Billiton was high bidder
on two blocks in the eastern Atwater Foldbelt - Atwater Valley blocks 119 and
163. The blocks are located in 2,200 meters of water, and BHP Billiton holds a
33.33 per cent interest in both.



                                      ****

Further information can be found on our Internet site: http://
www.bhpbilliton.com
Australia

Dr. Robert Porter, Investor Relations                     United Kingdom/South Africa
Tel: + 61 3 9609 3540       Mobile: [phone]       Michael Campbell, Investor & Media Relations
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Mandy Frostick, Media Relations
Tel: [phone]       Mobile: [phone]        Ariane Gentil, Manager Communications
email: [e-mail]                   Tel: [phone]     Mobile: + 44 7881 518 715
                                                          email: [e-mail]

United States
Francis McAllister, Investor Relations
Tel: [phone]       Mobile: [phone]
email: [e-mail]


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