Not long after its arrival in Egypt, Arcius Energy — a joint venture between BP and XRG, ADNOC’s international energy investment company — has pledged to invest half a billion dollars in developing the Harmattan field, which will include various offshore well services and other work.
The company announced on 1 April 2026 that it had reached a final investment decision (FID) on the project, a first for the new joint venture company.
The Harmattan gas and condensate field is located 2.5 km north of Ras El Barr in the Damietta Governorate.
Work will “help support and increase natural gas production to meet domestic market needs,” an Arcius Energy statement noted.
Development plans includes the drilling of up to three wells, installation of a fixed offshore platform and the construction of 50-km pipeline linked to onshore processing facilities near Port Said, with production expected to start in 2028.
It marks a rapid timeline with the joint venture only acquiring the rights to the El Burg Offshore concession area in February 2026.
The Arcius Energy statement said that Pharaonic Petroleum Company (PhPC), acting on behalf of El Burg Offshore Petroleum Company, awarded the Engineering, Procurement, Construction, and Installation (EPCI) contract to Egypt’s ENPPI, with Petroleum Marine Services and Petrojet also participating as subcontractors.
Naser Al Yafei, Chief Executive Officer of Arcius, said the Harmattan FID “reflects our confidence in the potential of Egypt’s energy sector” and will further position the country as a regional energy hub within the Eastern Mediterranean.
The project bodes well for additional well services work in the area as the North African country's oil and gas industry continues to mature.
In addition to the El Burg Offshore concession area, Arcius Energy also owns 10% of Shorouk which contains the producing Zohr field, 100% of North Damietta which contains the producing Atoll field, plus stakes in the North El Tabya, Bellatrix-Seti East and North El Fayrouz exploration concessions.
