Cairo – Mubasher: The Egyptian Ministry of Petroleum has announced on Wednesday that the development of the Atoll gas field reached 53% and that production is expected to start by the end of 2017.
BP is handling the development of the North Damietta offshore concession in the East Nile Delta, for which three wells at a 950-metre depth each are already drilled and a 20-inch pipeline was added to the land facilities, according to the minister of petroleum Tarek El-Molla.
The project development’s plan was accelerated to start at a daily production rate of 300 million feet of gas and 8,000 barrels of condensates, according to the statement.
The Atoll field’s reserves stand at 1.5 trillion cubic feet of gas and 31 million barrels of condensates, with investments reaching $3.8 billion.
