Arcius has reached the Final Investment Decision (FID) for the Harmattan gas field in Egypt’s El Burg Offshore concession, marking a significant milestone in the company’s first offshore development project in the country.
The project, developed in partnership with the Egyptian Natural Gas Holding Company (EGAS), represents an investment of approximately US$500 million by the bp-XRG joint venture and is expected to increase Egypt’s natural gas production while strengthening domestic energy supply.
The FID follows Arcius’ acquisition of the El Burg Offshore concession in February 2026, paving the way for the project’s execution phase. Engineering, procurement, construction and installation (EPCI) services will be delivered by ENPPI on behalf of the Pharaonic Petroleum Company (PhPC) and the El Burg Offshore Petroleum Company, with Petroleum Marine Services (PMS) and Petrojet serving as subcontractors.
Arcius Chief Executive Officer Naser Al Yafei described the investment decision as a major step towards bringing one of the company’s first Egyptian projects into production. He said the development demonstrates Arcius’ confidence in Egypt’s energy sector and reflects the company’s commitment to working closely with the Egyptian government, EGAS and project partners to strengthen natural gas supply, enhance energy security and support Egypt’s position as a regional energy hub in the Eastern Mediterranean.
The Final Investment Decision was announced during EGYPES 2026 in the presence of Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, together with representatives from EGAS, Arcius, PhPC and ENPPI.
The Harmattan development is expected to contribute to Egypt’s growing natural gas sector while supporting infrastructure-led production growth and continued investment in the country’s offshore energy industry.
