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Tuesday, February 13, 2018
BP saw the start of gas production from its Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below the initial cost estimate.The project is now producing 350 Mmcf/d and 10,000 bpd of condensate. Gas production from the field is directed to Egypt’s national grid.
Atoll is the first new project to come into production for BP globally in 2018, and one of its five major upstream projects the company plans to bring online this year.
Bob Dudley, BP group chief executive, said: “BP is focused on delivering growth with discipline, carefully choosing and efficiently executing high-quality projects. The longstanding partnerships we have in Egypt allowed us to fast-track Atoll’s development and deliver first gas only 33 months after discovery. This is a further demonstration of our commitment to help realise Egypt’s oil and gas potential and meet the increasing demand from its growing population.”
BP announced the Atoll discovery in March 2015. The main reservoir in the field contains an estimated 1.5 Tcf of gas and 31 million barrels of condensates and further segments are under evaluation.
The Atoll Phase One project is an early production scheme requiring almost $1 billion in investment. The project involved recompletion of the original exploration well as a producing well and the drilling of two additional production wells, completed August 2015 to February 2017. Production is exported to the existing onshore West Harbor gas processing plant. Installation of the necessary subsea infrastructure and upgrading of onshore facilities was completed ahead of schedule.
Hesham Mekawi, Regional President, BP North Africa commented: “Atoll is our first major project in Egypt to be delivered in 2018, following the West Nile Delta Taurus and Libra project and then Zohr last year. We are extremely proud of Atoll’s efficient execution through our joint venture, the Pharaonic Petroleum Company. Delivering this project at such an unprecedented pace, less than two years after sanction, and with an impeccable safety record is a tremendous achievement.”
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