Arcius Energy expands investment in Egypt via Harmattan gas field
Updated 11/5/2025 11:37:00 AM
Arab Finance: The Egyptian Natural Gas Holding Company (EGAS), Arcius Energy, Shell, and bp signed an agreement for the acquisition of the Harmattan field in the Mediterranean Sea, according to a statement.
Under the joint deal, Arcius Energy will obtain full production and exploitation rights in the El Borg offshore concession in the Mediterranean Sea, as part of an expansion plan to strengthen its presence in Egypt.
The company plans to boost its exploration and production operations in the Mediterranean.
On the sidelines of the ADIPEC Exhibition and Conference 2025 in Abu Dhabi, Minister of Petroleum and Mineral Resources Karim Badawi commented on the partnership, affirming the petroleum sector's commitment to attracting further investments and maximizing the utilization of existing assets and infrastructure to add new gas and oil production.
Badawi also held a meeting with Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC Group.
Both sides affirmed their support for ADNOC's efforts, through XRG and its subsidiaries, to increase its investments in Egypt.
At the conclusion of the meeting, Badawi invited Al Jaber to be the guest of honor and speaker at the upcoming Egypt Energy Show (EGYPES 2026).
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