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Arcius, a joint venture between UK’s BP and ADNOC’s international energy investment arm XRG, has finalised a five-year plan for gas production in Egypt involving exploration and investments.
Arcius unveiled the scheme nearly three months after it acquired the Harmattan gas and condensate field in Egypt’s Eastern Mediterranean waters.
Its CEO Naser Al -Yafei disclosed the plan at talks with Egypt’s energy and mineral resources minister Karim Badawi in Cairo, the ministry said on Wednesday.
During the meeting, Al-Yafei reviewed Arcius’ expansion plans in Egypt and its ambitious work program for the next five years, the ministry said on its website.
It quoted Al-Yafei as saying the plan involves research, exploration and production of natural gas with the aim of “unlocking new opportunities for gas resources.”
“The plan also aims to double the company’s gas production and increase the size of its business portfolio through expanding investments in research, exploration and field development,” the CEO said.
Arcius wants to build on its success in completing the investment agreement to develop the Harmattan gas field, in parallel with investing in expansion opportunities to obtain new areas for natural gas exploration, he added.
In November 2025, Arcius had announced that it had entered into a binding agreement for the El Burg Offshore concession in the Eastern Mediterranean, which contains the Harmattan gas and condensate field from Shell (60 percent) and BP (40 percent).
The offshore field will be developed through the drilling of up to three production wells and the installation of a fixed offshore platform, connected by a 50-kilometre pipeline to onshore processing facilities located near Port Said, Arcius said. Production is expected to commence in 2028.
Al-Yafei said after the deal that it underscores the company’s commitment to its partnership with the Egyptian government and aligns with broader efforts to enhance the country’s energy security.
Arcius owns 10 percent of Shorouk, which contains the producing Zohr field; 100 percent of North Damietta which contains the producing Atoll field; and stakes in the North El Tabya, Bellatrix-Seti East and North El Fayrouz exploration concessions.
(Writing by N Saeed; Editing by Anoop Menon)
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