Arcius Energy (BP and ADNOC) takes FID on Harmattan gas field development in Egypt’s El Burg Offshore concession

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.

Counterparts (8)

Partner

Las Vegas Stadium Authority

company

The Las Vegas Stadium Authority is a public entity responsible for the ownership and oversight of major stadium projects in Las Vegas, Nevada. It manages the Allegiant Stadium (NFL) and is overseeing the development of a new MLB stadium project.

supplier

Petroleum Marine Services

company

Houston-based petroleum marine services company with 1,200 employees specializing in offshore oil and gas infrastructure development, subsea installation, and marine logistics across the Gulf of Mexico, North Sea, and West Africa.

Petrojet

company

Cairo-based Egyptian conglomerate specializing in oil & gas infrastructure, petrochemicals, and civil engineering. Operates across Egypt and the Middle East with 12,000 employees and a track record in refinery construction, pipelines, and industrial facilities.

borrower

P

Pharaonic Petroleum Company

company

Egypt-based integrated oil and gas company with 2,800 employees, operating upstream and midstream assets across Egypt and the Mediterranean. Focuses on natural gas production, refining, and petrochemicals with 43 years of operations.

parent_company

ADNOC

company · 1 deals

ADNOC is a diversified energy group wholly owned by the Abu Dhabi Government. They are focused on making today’s energy cleaner while investing in the clean energies of tomorrow, including renewable energy, clean hydrogen and Carbon Capture and Storage (CCS).

bp

company · 1 deals

BP is an integrated energy company delivering heat, light, and mobility products and services worldwide. Their strategy involves growing upstream operations, focusing downstream activities, and investing in the energy transition.

EPC Contractor

ENPPI

company

Cairo-based Egyptian state-owned engineering, procurement, and construction (EPC) contractor specializing in large-scale infrastructure projects across Egypt and the Middle East. Focuses on transportation, utilities, and social infrastructure with a workforce of 5,000 employees.

Developer

A

Arcius Energy

company

London-based renewable energy infrastructure investor and developer with $2.5B AUM across 3.2 GW of operating assets. Focuses on utility-scale battery storage, onshore wind, and solar PV in Australia, UK, and North America.