Arcius has announced the Final Investment Decision (FID) to develop the Harmattan gas field in the El Burg Offshore concession area, a significant step toward executing one of its first projects in Egypt. The investment, estimated at approx. half a billion USD, will help support and increase natural gas production to meet domestic market needs.
The announcement was made during the EGYPES 2026 with the participation of the Egyptian Natural Gas Holding Company (EGAS), Arcius as the Operator of El Burg Offshore Concession (EBOC), Pharaonic Petroleum Company (PhPC), ENPPI, and in the presence of H.E. Engineer Karim Badawi, Minister of Petroleum and Mineral Resources.
Following Arcius’ acquisition of the El Burg Offshore concession area in February 2026, the company, in collaboration with EGAS, announced the Final Investment Decision for the project. As part of the execution phase, PhPC acting on behalf of El Burg Offshore Petroleum Company awarded the Engineering, Procurement, Construction, and Installation (EPCI) contract to ENPPI, with Petroleum Marine Services and Petrojet participating as subcontractors.
Naser Al Yafei, Chief Executive Officer of Arcius, commented: 'The Final Investment Decision to develop the Harmattan field marks an important milestone in advancing one of our first projects in Egypt toward production. It reflects our confidence in the potential of Egypt’s energy sector and our commitment to close cooperation with the Egyptian government, EGAS, and our execution partners to strengthen Egypt’s natural gas supply, support energy security, and reinforce Egypt’s position as a regional energy hub in the Eastern Mediterranean.'
• bp and XRG, ADNOC’s international energy investment company, established Arcius in December 2024 as a regional gas platform focused initially on the development of gas assets in Egypt and the wider Eastern Mediterranean. Building on more than 50 years of partnership between bp and ADNOC, Arcius is structured as a joint venture with bp holding 51% and XRG holding 49%, aligning with both companies’ long-term strategic growth plans.
• Arcius participating interests in concession agreements in Egypt:
- 10% of Shorouk which contains the producing Zohr field;
- 100% of North Damietta which contains the producing Atoll and Qattameya fields;
- 100% of El Burg Offshore which contains the Harmattan field;
- Arcius holds 100% of the North El Tabya exploration concession, and 50% of the Bellatrix–Seti East and North El Fayrouz exploration concessions.
Source: Arcius
