UK-based oil and gas services company Subsea 7 won has announced winning a contract in Egypt for work on an offshore project – a deal estimated to be worth between $150mn and $300mn.
The company said it considered this to be a substantial contract which calls for work on pipelines and associated structures for operations in the Atoll field.
Also in June, BP and its regional partners sanctioned a fast-track scheme to bring 300mn cubic feet per day (cbf/d) of natural gas to the domestic Egyptian market from the deepwater Atoll development by the first half of 2018.
BP made the Atoll discovery in March 2015. The company said the fast-track development could establish the East Nile Delta as an emerging energy hub for Egypt.
A West Nile Delta project involves the development of 5tn cubic feet of potential reserves.
Full-scale production, scheduled to begin in 2017, is expected to be around 1.2bcf/d of gas, which represents about a quarter of the country’s total.
