AUSTRALIA - BHP BILLITON of Melbourne has sold its Falcon geophysical technology to FUGRO NV of the Netherlands. BHP Billiton will retain exclusive use and priority access to the technology until March 2010. Falcon was developed by BHP Billiton and Lockheed Martin and is deployed on Fugro aircraft.
Four Falcon airborne gravity gradiometer (AGG) systems have been built to date, and three are currently installed in Cessna Grand Caravan aircraft. The fourth system can be installed on either fixed wing or helicopter platforms. This system is currently installed in a helicopter managed by Fugro on behalf of BHP Billiton.
The sale is expected to close by March 2008. More information is available at www.Fugro.com.