Arcius Energy, a UK-based subsidiary of BP and ADNOC’s UAE-based subsidiary XRG, have made a final investment decision (FID) in a natural gas field offshore Egypt.
With a final investment decision not yet made, Arcius Energy plans to develop Harmattan gas field in Marine tower The concession area, which is considered an important step towards implementing one of its first projects in Egypt. The company will invest nearly half a billion dollars in this project to help support and increase natural gas production to meet the needs of the local market.
As part of the implementation phase, the Pharaonic Petroleum Company (PhPC), on behalf of Al Borg Offshore Petroleum Company, awarded the engineering, procurement, construction and installation (EPCI) contract to Enppi, with Offshore Petroleum Services and Petrojet participating as subcontractors.
The company acquired the Marine Tower concession area in February 2026 in cooperation with the Egyptian Natural Gas Holding Company (EGAS). BP (51%) and XRG (49%), ADNOC’s international energy investment company, established Arcius in December 2024 as a regional gas platform initially focused on developing gas assets in Egypt and the wider Eastern Mediterranean region.
The company owns participating shares in concession agreements in Egypt, including 10% of the Shorouk field, which contains the productive Zohr field. 100% of North Damietta, which includes the producing fields of Atoll and Kattameya; 100% of the offshore Burj area with the Harmattan field; – 100% of the North Tabiya exploration concession, and 50% of the Bellatrix-City exploration concessions east and north of Fayrouz.
Nasser Al-YafeiArcius CEO commented: “The final investment decision to develop the Harmattan field represents an important milestone in the progress of one of our first projects in Egypt towards production.
“It reflects our confidence in the potential of Egypt’s energy sector and our commitment to close cooperation with the Egyptian government, the Egyptian Natural Gas Holding Company (EGAS) and our implementation partners to enhance Egypt’s natural gas supply, support energy security, and strengthen Egypt’s position as a regional energy hub in the Eastern Mediterranean.”
Egyptian Ministry of Petroleum open In March 2026, Arcius Energy laid the groundwork to begin drilling two offshore gas exploration wells in the Mediterranean, Atoll West and Nofret.
These drilling activities are in line with the country’s plan to achieve this Drilling more than 100 exploration wells for oil and gas The year 2026 in cooperation with investment partners.
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