BP recently sanctioned development of the Atoll Phase One project, which is expected to boost the Egyptian domestic gas market by up to 300 million cubic feet per day of natural gas.
“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. “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 (Egyptian General Petroleum Corporation) and EGAS (Egyptian Natural Gas Holding Company) is allowing us to fast-track Atoll from discovery to production in less than three years, which is a significant achievement.”
BP announced its discovery of the atoll in March 2015 and drilled an exploration well to a depth of 21,000 feet, including 164 feet of gas pay. Through Atoll Phase One, an early production scheme (EPS), BP will reconfigure the exploration as a producing well and create two additional wells. The company expects to begin drilling in August and complete the project over 24 months.
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