Atoll field starts production 7 months earlier and under budget

Source : ET

 

British Petroleum Company (BP) announced that Atoll project was delivered seven months ahead of schedule and 33 percent below the initial cost estimate.

The project in the East Nile Delta is pumping out 350 million cubic feet of gas a day (mmscfd) and 10,000 barrels a day (bpd) of condensate.

“BP is focused on delivering growth with discipline, carefully choosing and efficiently executing high-quality projects. The longstanding partnerships we have in Egypt allowed us to fast-track Atoll’s development and deliver first gas only 33 months after discovery,” BP group chief executive Bob Dudley said.

“This is a further demonstration of our commitment to help realize Egypt’s oil and gas potential and meet the increasing demand from its growing population,” Dudley added.

In December 2017, a source at the Egyptian Natural Gas Holding Company (EGAS) said that the first phase of British Petroleum’s (BP) Atoll Phase One project has entered production to push Egypt’s natural gas production to 5.5 billion cubic feet of gas per day.

Atoll Phase One project is expected to bring up to 300 million cubic feet of gas a day to the domestic gas market by the first half of 2018, as announced in March 2015.

Located in the North Damietta Offshore concession in the Eastern Nile Delta, Atoll contains an estimated 1.5 trillion cubic feet of gas and 31 million barrels of condensates.
BP holds 100 percent interest in the concession.

Minister of Petroleum Tarek el-Molla said that Egypt accomplished four important projects for gas production in 2017.

Molla clarified that these projects added 1.6 billion cubic feet of gas per day.

He added that these projects included north of Alexandria’s fields Torres and Libra, Atoll, Norse and Zohr, which began production recently.

Source :

egypttoday

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