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Tag: Atoll

Eni in talks with big oil companies about sale of Zohr stake – sources

Posted: August 14, 2016 at 2:15 pm   /   Oil & Gas

Italy’s Eni is talking to oil companies including Lukoil, ExxonMobil, Total and BP about selling at least a 20 percent stake in its giant gas field in Egypt, industry sources said. Eni owns the whole of Zohr and has said it is interested in bringing in partners as part of its strategy of selling some […]

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BP targets increasing Atoll field production to 300mcf/d

Posted: August 10, 2016 at 3:06 pm   /   Oil & Gas

The Egyptian Minister of Petroleum, Tarek El Molla stated to Al-Borsa News that BP eyes boosting Atoll field production from the current 200mcf/d to 300mcf/d of gas by December 2018. BP has invested $3.8b in the development of the field, with $1b earmarked for the early production phase. In addition, the minister noted that PICO […]

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Interfax: All quiet on Egypt’s LNG export front until after 2020

Posted: July 17, 2016 at 8:17 pm   /   Oil & Gas

Industry sources from inside and outside Egypt are confident the country can resume exporting LNG by the end of the decade. However, they have warned that the number of cargoes shipped from Idku will not rise out of single digits per year before then. A source from Egypt’s Ministry of Energy, who wished to remain […]

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BP sanctions “fast-track” development of Atoll discovery in Egypt

Posted: June 20, 2016 at 4:52 pm   /   Oil & Gas

BP announced today that together with the Egyptian Natural Gas Holding Company (EGAS), it has sanctioned development of the Atoll Phase One project which is an early production scheme that will bring up to 300 million cubic feet a day (mmscfd) gross of gas to the Egyptian domestic gas market starting in the first half […]

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OTC 2016: El-Molla holds intensive talks with International Companies

Posted: May 11, 2016 at 8:35 pm   /   Oil & Gas

On 6th may 2016, Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, held various meetings with a number of Heads of international companies operating in Egypt. He discussed the development program of North Alexandria fields and Atoll field, with BP’s Chief Executive for research and production, the development program of North Alexandria fields and […]

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OTC 2016: Egypt posed for growth to meet growing energy demands

Posted: May 4, 2016 at 1:33 am   /   Oil & Gas

As Egypt’s dependency on gas increases, particularly electricity, the country is in the midst of restructuring to meet its energy demands as well as becoming a regional energy hub, commented Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources, at the Offshore Technology Conference (OTC) 2016. The minister shed light on several investment opportunities, […]

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GlobalData Report: BP’s Atoll field development project will reduce Egypt’s gas deficit

Posted: April 18, 2016 at 9:38 pm   /   Oil & Gas

“Analysis indicates that an investment of $945m will be required for the first phase development.” The Atoll gas discovery is of national significance for Egypt as it is expected to reduce the country’s 2bcf gas deficit, according to a report by GlobalData. Entitled ‘Egypt Atoll Project Panorama – Oil and Gas Upstream Analysis Report’, the […]

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BP signs $1 billion deals with Egypt for the development of Atoll gas field

Posted: April 6, 2016 at 8:26 pm   /   Oil & Gas

British Petroleum (BP) had signed a number of deals with Egypt concerning the development of Atoll gas discovery in March in the North Damietta Offshore Concession in the East Nile Delta, the Egyptian Ministry of Petroleum announced Tuesday. The investments of this phase are estimated at a $1 billion out of $3 billion allocated for […]

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BP to accelerate development of phase-1 of Atoll offshore field

Posted: November 6, 2015 at 3:42 pm   /   Oil & Gas

BP announced that it has signed a Heads of Agreement (HoA) with the Egyptian Minister of Petroleum, His Excellency Eng. Tarek El Molla, regarding the acceleration of the development of the recent Atoll gas discovery. The Atoll discovery (BP 100%) in the North Damietta Offshore Concession in the East Nile Delta, offshore Egypt was announced […]

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BP to invest $229 million with Eni and Total in three offshore blocks

Posted: October 22, 2015 at 3:50 pm   /   Oil & Gas

BP Plc said it had been awarded three new offshore exploration blocks in Egypt and that it and its partners had committed to investment of $229 million. BP said it would have 100 percent equity and operate the North El Tabya block, located in deep waters north of its recent Salamat and Atoll discoveries. The […]

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