Cairo – Mubasher: BP and Egyptian Natural Gas Holding Company (EGAS) on Monday announced approving the investment of the first stage of developing Atoll gas field in Egypt.
It is expected that drilling will commence in August and will last for a 24-month period, BP said in a statement.
Early production for the Atoll gas field is expected to begin in 2018 and will provide the local Egyptian with around 300 million cubic metres of gas per day.
Atoll gas field reserves are estimated at 1.5 trillion cubic metres and 31 million barrels of condensates, according to the statement.
BP has a 100% interest in the concession, it said but did not give an investment figure.
“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 3 years, which is a significant achievement,” commented Hesham Mekawi, BP’s regional president for North Africa.
