{"id":657225,"date":"2024-12-17T00:00:00","date_gmt":"2024-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/bp-and-adnoc-have-more-appetite-for-egypt-energy-exploration\/"},"modified":"2024-12-17T00:00:00","modified_gmt":"2024-12-17T00:00:00","slug":"bp-and-adnoc-have-more-appetite-for-egypt-energy-exploration","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/bp-and-adnoc-have-more-appetite-for-egypt-energy-exploration\/","title":{"rendered":"BP and Adnoc have more appetite for Egypt energy exploration"},"content":{"rendered":"

BP, Adnoc\u2019s XRG launch<\/strong> Arcius Energy: <\/strong>BP and the Abu Dhabi National Oil Company\u2019s (Adnoc) investment arm, XRG, finalized the establishment of Arcius Energy, a joint venture aimed at expanding natural gas operations in Egypt, according to a joint press release (pdf)<\/a>. With BP holding 51% and XRG 49%, Arcius will kick off its operations in Egypt before expanding elsewhere. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

What\u2019s the plan? <\/strong>The new platform will tap into BP\u2019s stakes in key gas assets, including the Zohr field in the Shorouk concession (10%), the Atoll field in North Damietta (100%), and exploration areas in North El Tabya, Bellatrix-Seti East, and North El Fayrouz. <\/p>\n

Leadership moves:<\/strong> Arcius Energy has named Adnoc\u2019s sustainability and strategy VP, Naser Saif Al Yafei, as CEO and BP\u2019s VP for gas and low carbon energy growth, Katerina Papalexandri as CFO, bringing their expertise from their roles at the two energy giants.. <\/p>\n

Wh<\/strong>at they said:<\/strong> \u201cThis progressive partnership will unlock a lower-carbon transition fuel to build a future where smarter, cleaner and more affordable energy is accessible for Egypt and the world,\u201d XRG Executive Chair and Adnoc CEO Sultan Al Jaber said. <\/p>\n

We\u2019ve been waiting for a while now:<\/strong> Both companies agreed in February<\/a> to form a JV that targets the development of natural gas assets in Egypt. <\/p>\n

The story caught the attention of the international press:<\/strong> Reuters<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

The new platform will tap into BP\u2019s stakes in key gas assets<\/p>\n","protected":false},"author":1,"featured_media":657226,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[1703,196,93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-adnoc","tag-bp","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"704c38d4-245f-48ff-9872-dedd82f25392","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1561.jpg","photo_position":"above","homepage_title":"","full_issue_title":"BP and Adnoc set up Arcius Energy JV to ramp up Egypt energy exploration","related_issue":[657215],"teaser":"The new platform will tap into BP\u2019s stakes in key gas assets","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.60cce7e1-4665-4655-98fd-2f0de7f47827.mp3"},"yoast_head":"\nBP and Adnoc have more appetite for Egypt energy exploration - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/bp-and-adnoc-have-more-appetite-for-egypt-energy-exploration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP and Adnoc have more appetite for Egypt energy exploration\" \/>\n<meta property=\"og:description\" content=\"The new platform will tap into BP\u2019s stakes in key gas assets\" 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field","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/1276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":691607,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/05\/egas-and-arcius-ink-usd-500-mn-fid-for-harmattan-gas-field-development\/","url_meta":{"origin":657225,"position":1},"title":"Egas and Arcius ink USD 500 mn FID for Harmattan gas field development","author":"enterpriseam admin","date":"5 April 2026","format":false,"excerpt":"Plus: EBRD funds local fertilizer expansion, first Egyptian killed in regional war","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our 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"Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1414.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":662587,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/arcius-energy-to-take-over-shells-stake-in-harmattan-field\/","url_meta":{"origin":657225,"position":4},"title":"Arcius Energy to take over Shell\u2019s stake in Harmattan field","author":"enterpriseam admin","date":"19 March 2025","format":false,"excerpt":"PLUS- Fawry, Contact Financial expand BNPL partnership","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/1615.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657269,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/17\/bp-and-shell-are-working-to-turn-the-tap-on-at-their-harmattan-field\/","url_meta":{"origin":657225,"position":5},"title":"BP and Shell are working to turn the tap on at their Harmattan field","author":"enterpriseam admin","date":"17 December 2024","format":false,"excerpt":"Good afternoon, all, and happy hump day. The slew of news is holding up today, as we receive reports of USD multi-mn investments, political incidents, and a miraculously good TV adaptation of a book.THE BIG STORY TODAY- BP and Shell to add 125 mn cbf of daily gas production in\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2645.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=657225"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657225\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657226"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657225"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657225"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}