BHP lets Falcon go to Fugro

BHP Billiton has agreed to sell its Falcon airborne geophysical technology to Dutch company Fugro.

BHP said it would retain exclusive use and priority access to the technology for minerals exploration until March 2010. Execution of the sale agreement will be completed by March 2008. The Falcon technology, jointly developed by BHP Billiton and Lockheed Martin, is deployed on aircraft operated by Fugro Airborne Surveys. It has been used for petroleum-related work in Australia, Papua New Guinea and other parts of the world too. BHP have a long and productive relationship with Fugro Airborne Surveys and through this agreement they will continue to use Falcon technology through a world class geophysical service provider, focusing efforts on discovery of new mineral deposits.

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