British oil major BP, along with its partner the Egyptian Natural Gas Holding Company (EGAS), has approved investment in the development of the first phase of the Atoll field in the North Damietta offshore concession in the East Nile Delta, offshore Egypt.
As part of the initial phase development, BP plans to extract up to 300 million cubic feet a day (mmscfd) gross of gas from its wholly-owned field. Production is scheduled to commence in the first half of 2018.
BP North Africa regional president Hesham Mekawi said: "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.
"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."
The Atoll phase one involvesthe recompletion of the existing exploration well as a producing well. It also includes drilling of two additional wells and the installation of the tie-ins and facilities to enable gas production from the field.
According to BP estimates, the Atoll field holds 1.5 trillion cubic feet (tcf) of gas and 31 mmbbl of condensates.
BP plans to use the DS-6 rig to start drilling the Atoll wells in August. The drilling is expected to be completed in 24 months.
Upon successfully development of the Atoll phase one, the firm plans to make further investment in the Atoll Phase two full field development.
BP plans to maintain its current oil production capacity and double gas production capacity to reach 2.5 billion cubic feet per day (bcfd), with partners in Egypt. This increased production represents more than 50% of current gas production in the country.
Image: BP estimates the Atoll field to hold 1.5 trillion cubic feet (tcf) of gas and 31 mmbbl of condensates. Photo: courtesy of num_skyman/ FreeDigitalPhotos.net.