UK’s BP announced starting production of natural gas from the first phase of Egypt’s Atoll field, located offshore Egypt, seven months before scheduled time with 33% lower than the initial estimated cost, Egypt Oil & Gas reports.
Atoll field project is producing 350 million standard cubic feet per day (bcf/d) in addition to 10,000 barrels per day (b/d) of condensates. The Egyptian national gas grid is entitled to receive the field’s natural gas output.
“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,” said Bob Dudley, BP Group Chief Executive. “This is a further demonstration of our commitment to help realize Egypt’s oil and gas potential and meet the increasing demand from its growing population,” he added.
“BP’s successes are the result of joint efforts and fruitful cooperation with the Ministry of Petroleum and Mineral Resources,” Dudley stated during his meeting with the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, on the sidelines of the Egypt Petroleum Show (EGYPS 2018).
The results of BP’s work during 2017 remain a milestone in its investments in Egypt as it succeeded in piloting the first phase of the North Alexandria project and the Atoll field on a map, Dudley noted, praising the strong support BP receives from the political and executive leadership in Egypt, as well as the understanding, cooperation, and continuous coordination with the petroleum sector, which supports the company’s commitment to implement its operational plans and increase its investments.
BP unveiled the Atoll field discovery in March 2015, with main reservoir estimated at 1.5 trillion cubic feet of natural gas and 31 million barrels of condensates in place.