Arcius Energy finalized an agreement to acquire the Harmattan gas and condensate field in the Eastern Mediterranean from Shell and BP under a concession transfer signed with Egas, securing full rights to the El Burg offshore block, according to an Oil Ministry statement. The Adnoc and BP joint venture will take over all obligations and development rights for the field. The transaction value was not disclosed.

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The development plan includes drilling up to three wells, installing a fixed offshore platform, and building a 50 km pipeline to onshore processing facilities near Port Said, according to a press release (pdf). First gas from Harmattan is expected in 2028.

BACKGROUND- Last December, BP and Shell signed an agreement with Egas to begin production at Harmattan by 1Q 2026, with initial investments estimated at USD 370 mn. It’s expected to produce 125 mn cubic feet of gas every day.

REMEMBER- BP and Adnoc set up Arcius Energy with the aim of expanding natural gas operations in Egypt, with BP holding a 51% stake and Adnoc’s investment arm XRG owning 49%.

ALSO- Egas signed a seismic survey agreement with an SLB-Viridien consortium to run seismic surveys across 95k sq km in the Eastern Med, according to a statement. The EGPC also extended its Egypt Upstream Gateway contract with SLB for three years, committing USD 44 mn in upgrades to the digital licensing and data platform, the statement said.

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