Arab Finance: The Egyptian Natural Gas Holding Company (EGAS) and Arcius Energy signed an agreement valued at nearly $500 million to develop the Harmattan gas field in the Mediterranean, as per a statement.
Enppi will become the general contractor for the project upon a contract signed with Pharaonic Petroleum Company on the sidelines of EGYPES 2026.
The Harmattan gas field is expected to produce around 150 million cubic feet of gas and 3,300 barrels of condensate per day.
In February, Minister of Petroleum and Mineral Resources Karim Badawi discussed the company’s plans to expand natural gas exploration and production activities in Egypt.
