BHP said it will 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
