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 company is developing the second phase of Al-Amal field with a production capacity of 50mcf/d of gas. The cost of the upgrade plan is estimated at $118m and is scheduled to start operating in April 2017.
Further, the minister also mentioned that El Wastani Petroleum Company (WASCO) is to complete the development of the Balsam field to produce 100mcf/d of gas at estimated cost of $22m. The completion of the project is expected by the end of 2016.
In June, BP and its regional partner, the Egyptian Natural Gas Holding Co. (EGAS), started developing the deepwater Atoll project in an early production scheme that involves the recompletion of the existing exploration and production well, the drilling of two extra wells, and the installation tie-ins and facilities required for production from the field.