BP to accelerate development of first phase of Atoll field in Egypt

BP today 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 in March 2015. 
The agreement is expected to enable first production to be expedited from an estimated 1.5 trillion cubic feet (tcf) of gas resources and 31 million barrels (mmbbl) of condensates in the Atoll field to the domestic market, with production anticipated to begin in 2018. …