Abu Dhabi Nationwide Oil Co PJSC (ADNOC) and BP’s three way partnership in Egypt has introduced a last funding choice to proceed with the event of the Harmattan gasoline area.
“The funding, estimated at roughly half a billion USD, will assist help and enhance pure gasoline manufacturing to satisfy home market wants”, Arcius Power Egypt Ltd, the JV, mentioned in an internet assertion.
The undertaking “displays our confidence within the potential of Egypt’s power sector and our dedication to shut cooperation with the Egyptian authorities, EGAS [state-owned Egyptian Natural Gas Holding Co] and our execution companions to strengthen Egypt’s pure gasoline provide, help power safety and reinforce Egypt’s place as a regional power hub within the Jap Mediterranean”, mentioned Arcius chief govt Naser Al Yafei.
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Harmattan is a part of the El Burg Offshore concession, owned 100% by Arcius, which acquired it February 2026.
Arcius mentioned within the preliminary announcement of the transaction November 5, 2025 it expects Harmattan to start out manufacturing 2028. The plan entails drilling as much as three wells and putting in a hard and fast offshore platform. The platform can be related by a 50-kilometer (31.07 miles) pipeline to onshore processing amenities close to Port Stated, the announcement mentioned.
Arcius additionally owns 10 % of Shorouk, which incorporates the manufacturing Zohr area; 100% pf North Damietta, which incorporates the manufacturing Atoll and Qattameya fields; 100% of the North El Tabya exploration leases; and 50 % of the Bellatrix-Seti East and North El Fayrouz exploration concessions.
ADNOC, by way of its worldwide funding arm XRG PJSC, and Britain’s BP established Arcius December 2024 to develop gasoline within the North African nation. BP owns 51 % in Arcius. XRG holds 49 %.
Final yr BP introduced the beginning of manufacturing in section 2 of the Raven area offshore Egypt. BP expects Raven to provide roughly 220 billion cubic ft of gasoline and 7 million barrels of condensate, it mentioned in an internet assertion February 16, 2025.
A part of the West Nile Delta growth, the second section concerned tying again infill wells to the sphere’s present onshore infrastructure, in line with BP. Raven got here onstream 2021.
BP operates West Nile Delta with a 82.75 % stake. BP’s associate is Scotland-based Harbour Power PLC, which owns 17.25 %.
Egypt contributed 518 million cubic ft a day of pure gasoline and 10,000 barrels per day of crude oil to BP’s internet manufacturing final yr, in line with its annual report.
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