Abu Dhabi Nationwide Oil Co PJSC (ADNOC) and BP’s three way partnership in Egypt has introduced a closing funding resolution to proceed with the event of the Harmattan fuel subject.
“The funding, estimated at roughly half a billion USD, will assist assist and enhance pure fuel manufacturing to satisfy home market wants”, Arcius Vitality Egypt Ltd, the JV, mentioned in a web based assertion.
The mission “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 fuel provide, assist power safety and reinforce Egypt’s place as a regional power hub within the Japanese Mediterranean”, mentioned Arcius chief govt Naser Al Yafei.
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 includes drilling as much as three wells and putting in a set offshore platform. The platform could be linked by a 50-kilometer (31.07 miles) pipeline to onshore processing amenities close to Port Mentioned, the announcement mentioned.
Arcius additionally owns 10 % of Shorouk, which accommodates the manufacturing Zohr subject; 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 means of its worldwide funding arm XRG PJSC, and Britain’s BP established Arcius December 2024 to develop fuel within the North African nation. BP owns 51 % in Arcius. XRG holds 49 %.
Final 12 months BP introduced the beginning of manufacturing in part 2 of the Raven subject offshore Egypt. BP expects Raven to supply roughly 220 billion cubic ft of fuel and 7 million barrels of condensate, it mentioned in a web based assertion February 16, 2025.
A part of the West Nile Delta growth, the second part concerned tying again infill wells to the sphere’s current onshore infrastructure, in response to BP. Raven got here onstream 2021.
BP operates West Nile Delta with a 82.75 % stake. BP’s companion is Scotland-based Harbour Vitality PLC, which owns 17.25 %.
Egypt contributed 518 million cubic ft a day of pure fuel and 10,000 barrels per day of crude oil to BP’s web manufacturing final 12 months, in response to its annual report.
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