UK-based energy giant BP has sanctioned the development of the Atoll Phase One project, an early production scheme to bring up to 300 million cubic feet a day gross of gas to the Egyptian market starting in the first half of 2018.
Hesham Mekawi, Regional President, BP North Africa on Friday said the project, in which BP has a 100 percent interest, will establish a new material hub offshore East Nile Delta.
BP said it has 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.
The Atoll discovery was made in March 2015 and the Phase One is an early production scheme which involves 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 well will be drilled by the DS-6 rig which is expected to begin operations in August and continue for 24 months. Depending on the results of the Phase One project, BP will decide on further investment in Phase Two full field development.