BP sanctions the development of the Atoll Phase One project in Egypt.
BP announced Monday that, together with the Egyptian Natural Gas Holding Company (EGAS), it has sanctioned the development of the Atoll Phase One project in Egypt.
The project is an early production scheme that will bring up to 300 million cubic feet per day gross of gas to the Egyptian domestic gas market, starting in the first half of 2018. BP has a 100 percent interest in the concession.
“BP is proud to progress the acceleration of the Atoll project which will bring critical gas to the Egyptian market and establish a new material hub offshore East Nile Delta,” said Hesham Mekawi, regional president, BP North Africa, in a company statement.
“Our confidence in the prospectivity of the area along with our ongoing commitment to Egypt and our successful history of partnership with the Ministry of Petroleum, EGPC and EGAS is allowing us to fast track Atoll from discovery to production in less than three years which is a significant achievement,” he added.
BP recently completed multiple transportation and processing agreements accelerating the development of the Atoll field which contains an estimated 1.5 trillion cubic feet of gas and 31 million barrels of condensates. Onshore processing will be handled by the existing West Harbour gas processing facilities. BP announced the Atoll discovery in March 2015.
Atoll Phase One is an early production scheme (EPS) involving the recompletion of the existing exploration well as a producing well, the drilling of two additional wells and the installation of the necessary tie-ins and facilities required to produce from the field.
The Atoll wells will be drilled by the DS-6 rig which arrived in Egypt last month and is expected to start drilling in August for the next 24 months. Success of the Atoll Phase One EPS could lead to further investment in the Atoll Phase Two full field development.
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