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BP and ADNOC joint venture makes final investment decision on Egypt offshore Harmattan natural gas project
BP, the British Petroleum Company, and ADNOC, the Abu Dhabi National Oil Company, have made a final investment decision for their joint venture Arcius Energy to develop the Harmattan natural gas field within the El Burg Offshore concession in Egypt.
The investment is estimated at approximately $500k and is one of Arcius’s first projects in Egypt, aimed at increasing natural gas production to support domestic demand.
The decision was made after Arcius acquired the El Burg Offshore concession in February 2026, with the project progressing in collaboration with Egypt Natural Gas Holding Company.
As part of the execution phase, Pharaonic Petroleum Company, representing El Burg Offshore Petroleum Company, awarded engineering, procurement, construction, and installation contracts to ENPPI, with Petroleum Marine Services and Petrojet participating as subcontractors.
Arcius CEO Naser Al Yafei stated, “The final investment decision to develop the Harmattan gas field marks an important milestone in bringing one of our first projects in Egypt into production. This reflects our confidence in Egypt’s energy sector potential, as well as our close cooperation with the Egyptian government, EGAS, and our operational partners to strengthen Egypt’s natural gas supply, support energy security, and solidify Egypt’s position as an energy hub in the Eastern Mediterranean region.”
Founded in 2024, Arcius is a joint venture between BP and ADNOC’s investment arm XRG, focusing on developing natural gas assets in Egypt and the broader Eastern Mediterranean region.