BP Share News (BP.)

(ShareCast News) - BP has decided to go accelerate development of its wholly owned Atoll gas project in Egypt, which will begin to flow in the first half of 2018.Offshore the East Nile Delta, the Atoll field is expected to produce up to 300m cubic feet a day (mmscfd) gross of gas to the Egyptian domestic gas market when it is up and running.Atoll contains an estimated 1.5trn cubic feet (tcf) of gas and 31m barrels (mmbbl) of condensates.BP, which made the 100%-owned discovery in March 2015, will now establish a new hub offshore the East Nile Delta following multiple transportation and processing agreements made in recent weeks.Onshore processing will be handled by the joint-owned existing West Harbour gas processing facilities."Our confidence in the prospectivity of the area along with our ongoing commitment to Egypt and our successful history of partnership with the Ministry of Petroleum, EGPC and EGAS is allowing us to fast track Atoll from discovery to production in less than three years which is a significant achievement," said BP North Africa's Hesham Mekawi.