Atoll Phase One is 70% complete: Pharaonic Petroleum Company

CAIRO – 14 August 2017: Development works of British Petroleum’s (BP) Atoll Phase One project is 70 percent complete, the head of Pharaonic Petroleum Company, Hassan Abady, said on Monday.

In a meeting with Minister of Petroleum, Tarek El-Molla, Abady said that three wells had been drilled, and Molla asked companies working on the Atoll field to double production from the project.

Companies are about to finish installing power and automatic control lines for the field under the sea, according to the head of Pharaonic Petroleum Company, which is a joint venture between the Egyptian Natural Gas Holding Company (EGAS) and BP.

Announced in March 2015, Atoll Phase One project is expected bring up to 300 million cubic feet a day gross 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.