BHP Billiton Limited (ASX:BHP) says it expects its petroleum output to grow by as much as 40 per cent this year, compared to the year before.
The anticipated increase comes on the back of its recent purchase of US shale gas assets.
In a briefing to investors BHP has revealed it will this year inject $US4.5 billion into ramping up its shale gas production.
BHP says the shale gas industry is on track to become 'a game changer' in the US over the next 50 years.
By 2020 the company believes shale gas production could account for up to 50 per cent of gas production in the US.
In the 2011 financial year BHP Billiton reported a record net profit of $22.3 billion.
