BP will launch production at the USD 3.8 bilion Atoll field in the North Damietta concession ahead of schedule by the end of the year, said Hassan Abady, Chairman BP JV Pharaonic Oil Company, Al Ahram reports. Development of the field is 93% complete, including the drilling of three deepwater wells 950 meters below the water’s surface. The field is expected to produce 300 mcf/d and 8k bbl/d once online.
BP’s Atoll field is 93% complete
Development works of British Petroleum’s (BP) Atoll Phase One project is 93 percent complete, head of BP’s joint venture Pharaonic Petroleum Company, Hassan Abady said Wednesday.
While Minister of Petroleum Tarek El-Molla was visiting Atoll’s site in North Damietta, Abady announced that Atoll is expected to start production before the end of 2017.
“The company has completed the drilling of 1,2,3 wells at the depth of 950 meters, in addition to installing production and control units,” Abady added.
Announced in March 2015, Atoll Phase One project is expected to bring up to 300 million cubic feet a day of gas to the domestic gas market by the first half of 2018.
Located in the North Damietta Offshore concession in the Eastern Nile Delta, Atoll contains an estimated 1.5 trillion cubic feet of gas and 31 million barrels of condensates.
BP holds 100 percent interest in the concession.