Arcius Energy, a joint venture between BP and ADNOC's affiliate XRG, has acquired full production and exploitation rights for the North El Burg Offshore Concession in the Mediterranean through an agreement with Egypt's Egyptian Natural Gas Holding Company (EGAS), Shell, and BP. Under the agreement, Arcius Energy will assume all rights and obligations in the concession, including the development of the Harmattan field. The company plans to inject new investments to bring the field into production as part of its strategy to strengthen its presence in Egypt and expand its Mediterranean operations. Egypt's Minister of Petroleum Karim Badawi and UAE Minister of Industry and Advanced Technology and ADNOC CEO Sultan Al Jaber witnessed the signing on Wednesday on the sidelines of the ADIPEC 2025 Conference and Exhibition in Abu Dhabi. Following the signing, Badawi and Al Jaber discussed ways to enhance energy cooperation between Egypt and the UAE and reviewed Arcius Energy's expansion plans. They underscored the importance of reinforcing the company's gas investments through the Harmattan field development agreement and explored potential cooperation with ADNOC on low-carbon solutions, emission-reduction technologies, and digital applications to enhance production efficiency. Badawi invited Al Jaber to be the guest of honour and keynote speaker at the Egypt Energy Show (EGYPES 2026), noting that his participation would reflect the depth of energy cooperation between both countries. Attribution: Amwal Al Ghad English
