BP BP Plc

   By Oliver Griffin 
 

BP PLC (BP.LN) said on Monday that it has started production at the Atoll Phase One project in Egypt seven months early and 33% below the initial cost estimate.

The oil-and-gas company said it is aiming to produce 350 million cubic feet of gas a day, and 10,000 barrels a day of condensate at the project.

Atoll is the first new project to come into production for BP in 2018, the company said.

The total net production from new projects is expected to be 900,000 barrels of oil equivalent a day by 2021, BP said.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

February 12, 2018 07:05 ET (12:05 GMT)

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