Arcius Energy (BP and ADNOC) takes FID on Harmattan gas field development in Egypt’s El Burg Offshore concession
Type: Development · Technology: Gas · Country: Egypt · Value: $500M · Announced: 2026-04-02
Arcius Energy, a joint venture between BP and ADNOC’s investment arm XRG, took a final investment decision (FID) to develop the Harmattan gas field in Egypt’s El Burg Offshore concession, committing approximately $500 million to the project. The Harmattan field, located in the El Burg Offshore concession, is Arcius’ first major project in Egypt and aims to boost domestic natural gas production to meet rising demand. The development follows Arcius’ acquisition of the El Burg Offshore concession in February 2026, with execution supported by the Egyptian Natural Gas Holding Company (EGAS). Pharaonic Petroleum Company, acting on behalf of the El Burg Offshore Petroleum Company, awarded the engineering, procurement, construction, and installation (EPCI) contract to ENPPI, with Petroleum Marine Services and Petrojet serving as subcontractors. Naser Al Yafei, CEO of Arcius, emphasized the project’s role in strengthening Egypt’s energy security and reinforcing its position as a regional energy hub in the Eastern Mediterranean. The FID marks a critical milestone for Arcius’ expansion in Egypt, aligning with BP and ADNOC’s broader strategy to invest in the country’s energy sector.
Counterparties
- Petroleum Marine Services (Supplier)
- Pharaonic Petroleum Company (Borrower)
- ENPPI (Epc)
- bp (Parent Company)
- Petrojet (Supplier)
- ADNOC (Parent Company)
- Las Vegas Stadium Authority (Partner)
- Arcius Energy (Developer)