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Egypt aims to start natural gas production from its large offshore $3.8 billion Atoll gas field at the end of 2017, Oil Minister Tarek el-Molla said Monday.
The Atoll field was discovered by BP, which has a 100% equity in the discovery, in the North Damietta Concession offshore Egypt in the East Nile Delta in March 2015.
BP has completed 70 percent of the development work being carried out at the field, including drilling three deepwater wells 950 meters below sea level.
The field, estimated to contain 1.5 trillion cubic feet of gas reserves and and 31 million barrels of condensates, is set to pump 300 million cubic feet a day of gas to the Egyptian market.
