BP Sanctions Offshore Atoll Gas Project

Published at 03:48PM - 20/06/16

BP announced today that it has sanctioned development of the Atoll Phase One project in Egypt, together with the Egyptian Natural Gas Holding Company (EGAS).

The project is an early production scheme that will bring up to 300 million cubic feet a day gross of gas to the Egyptian domestic market starting in the first half of 2018.

“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”, BP North Africa Regional President, Hesham Mekawi, said.

BP Sanctions Offshore Atoll Gas Project

According to a statement by BP, it has recently completed several transportation and processing agreements to speed up the development of the field.

The Atoll field, where BP holds a 100% interest, 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 has processing capabilities. The wells will be drilled using the Ensco DS-6 drillship, which arrived in Egypt last month and is expected to start drilling in August for approximately 24 months.

The Atoll discovery was announced by BP in March 2015.

BP Can Fast-Track Production

“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”, Mekawi added.

Atoll Phase One is an early production scheme (EPS) which involves the recompletion of the existing exploration well as a producing well, the drilling of two additional wells and the installation of the tie-ins and facilities required for production from this field.

If Phase One is successful, there could be further investment in the Phase Two field development project.

Last updated on 05:21PM - 21/06/16