Egypt, Arcius sign final investment decision for $500m Harmattan Gas Field development

Egypt and Arcius Energy, a joint venture between BP and ADNOC, have approved a $500 million development of the Harmattan gas field in the Mediterranean, the ministry of petroleum said on Thursday.

The final investment decision (FID) was signed at the Egypt Energy Show (EGYPES 2026) in Cairo by Sayed Selim, Managing Director of the Egyptian Natural Gas Holding Company (EGAS), and Naser Al Yafei, CEO of Arcius.

In a parallel agreement, ENPPI was appointed as general contractor for the project through Pharaonic Petroleum Company, overseeing engineering, procurement, and construction work.

The field is expected to produce an initial 150 million cubic feet of gas and 3,300 barrels of condensate per day, with plans to ramp up to 200 million cubic feet of gas and 4,400 barrels of condensate daily. Completion is targeted for 2028.

The Harmattan project is part of Egypt’s wider strategy to boost gas output and attract foreign investment to its Mediterranean offshore fields.

Attribution: Amwal Al Ghad English