Arcius Energy, a joint venture between ADNOC’s XRG and BP, has secured full production and exploration rights for the Burj offshore concession in the Mediterranean, which includes Harmattan gas field offshore Egypt.
The agreement was signed during the ADIPEC 2025 exhibition in Abu Dhabi in the presence of Egyptian Petroleum Minister Karim Badawi and UAE Minister of Industry and Advanced Technology Sultan Al Jaber, who is also Executive Chairman and CEO of XRG.
The signing was carried out in collaboration with BP, the Egyptian Natural Gas Holding Company (EGAS), and Shell.
Egypt’s Ministry of Petroleum and Mineral Resources said Arcius obtained full production and exploitation rights in the Burj offshore concession in the Mediterranean, which includes the Harmattan Gas Field.
Badawi said the agreement grants Arcius all rights and obligations of Shell and BP in the concession, including the Harmattan field development contract. He said the transaction reflects investor confidence in Egypt’s petroleum sector and supports efforts to attract further upstream investment.
Following the signing, Badawi and Al Jaber discussed Arcius’s expansion plans and Egypt’s strategy to maximize use of existing assets and infrastructure to boost gas and oil output.
Arcius Energy was established in 2024 as a joint venture between BP (51%) and XRG (49%), the overseas investment arm of Abu Dhabi National Oil Company (ADNOC). The company’s operations are centered on developing and producing natural gas resources in Egypt and the wider Eastern Mediterranean.
Arcius holds interests in several concessions, including North Damietta (Atoll field) and Shorouk (Zohr field), as well as exploration areas such as North El Tabya and North El Fayrouz. Its creation marked the first partnership between bp and ADNOC focused exclusively on regional gas development.