{"id":662587,"date":"2025-03-19T00:00:00","date_gmt":"2025-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/arcius-energy-to-take-over-shells-stake-in-harmattan-field\/"},"modified":"2025-03-19T00:00:00","modified_gmt":"2025-03-19T00:00:00","slug":"arcius-energy-to-take-over-shells-stake-in-harmattan-field","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/arcius-energy-to-take-over-shells-stake-in-harmattan-field\/","title":{"rendered":"Arcius Energy to take over Shell\u2019s stake in Harmattan field"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Adnoc-BP\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/704c38d4-245f-48ff-9872-dedd82f25392\/bp-and-adnoc-set-up-arcius-energy-jv-to-ramp-up-egypt-energy-exploration\" style=\"\" rel=\"noopener\">joint venture Arcius<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/704c38d4-245f-48ff-9872-dedd82f25392\/bp-and-adnoc-set-up-arcius-energy-jv-to-ramp-up-egypt-energy-exploration\" style=\"\" rel=\"noopener\">Energy<\/a><\/strong><strong> is in advanced negotiations to acquire Shell\u2019s <\/strong><strong>50% stake in the Harmattan gas field<\/strong> in the Mediterranean, <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/74410\/%D8%A3%D8%B1%D9%83%D9%8A%D9%88%D8%B3-%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D9%84%D8%B4%D8%B1%D8%A7%D8%A1-%D8%AD%D8%B5%D8%A9-%D8%B4%D9%84-%D9%81%D9%8A-%D8%AD%D9%82%D9%84-%D9%87%D8%A7%D8%B1%D9%85%D8%AA%D8%A7%D9%86-%D9%84%D9%84%D8%BA%D8%A7%D8%B2-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The project in a nutshell:<\/strong> In December, BP and Shell signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62eb0d4a-2513-4122-8d90-27f45779e7c8\/%253cmark%253ebp-and-shell%253c%2Fmark%253e-to-add-125-mn-cbf-of-daily-gas-production-in-2026-with-usd-370-mn-project\" style=\"\" rel=\"noopener\">an agreement<\/a> with the Egyptian Natural Gas Holding Company to begin production at the Harmattan field by 1Q 2026, with initial investments estimated at USD 370 mn. The field is expected to produce 125 mn cubic feet of gas and 3.3k barrels of condensate daily.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown TBS Holding plans to invest USD 40 mn in the Saudi market <\/strong>over the coming three years, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/03\/18\/1876050\" style=\"\" rel=\"noopener\">Al Borsa<\/a> quotes CIO and co-founder Sameh El Sadat as saying. The F&B player had announced that it will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9bfa971d-c33d-4bce-b252-0a01f3e769c5\/egypt%25e2%2580%2599s-tbs-holding-to-set-up-shop-in-ksa-alongside-saudi%25e2%2580%2599s-shahia-investments\" style=\"\" rel=\"noopener\">open a commercial-scale bakery in Saudi Arabia<\/a> in partnership with Saudi food and beverage player <a target=\"_blank\" href=\"https:\/\/shahiainvest.com\/\" style=\"\" rel=\"noopener\">Shahia Investments<\/a> under a strategic partnership inked between the two sides. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We have more details on the expansion plans:<\/strong> TBS will allocate USD 10-15 mn to set up its factory \u2014 it will hold a minority 49% stake and Shahia will hold the remaining 51%. The company is in talks with two milling firms to set up a USD 15 mn joint snack factory, expected to launch by the end of 2026 and it has plans to further expand its retail presence in the Kingdom with a USD 10 mn investment, El Sadat said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fawry, Cont<\/strong><strong>act Financial expand BNPL partnership:<\/strong> Fawry inked a strategic agreement with Contact Financial Holding to integrate Contact\u2019s buy now, pay later (BNPL) service into its 370k+ POS network and online platform, according to a joint <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/1486.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The partnership will also extend to electronic payment solutions, bill collection, and other services. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Fawry, Contact Financial expand BNPL partnership<\/p>\n","protected":false},"author":1,"featured_media":662588,"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":[7209],"tags":[111,933,93,72,519,183,91,9162],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-662587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-contact-financial","tag-energy","tag-enterpriseam","tag-fawry","tag-fintech","tag-oil-and-gas","tag-tbs-holding","wpautop","entry"],"acf":{"mongo_id":"4611aba4-d20d-4459-ba93-5608b1bbb1e3","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/1615.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Arcius Energy to take over Shell\u2019s stake in Harmattan field","related_issue":[662570],"teaser":"PLUS- Fawry, Contact Financial expand BNPL partnership","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.64b3a95c-2acc-4236-9fb2-f39912df1c29.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Arcius Energy to take over Shell\u2019s stake in Harmattan field - 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\/2025\/03\/19\/arcius-energy-to-take-over-shells-stake-in-harmattan-field\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arcius Energy to take over Shell\u2019s stake in 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field","rel":"","context":"In &quot;Energy&quot;","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":662587,"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 &quot;Also on our Radar&quot;","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\/internal\/691662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569535,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/27\/apache-pharos-energy-among-bidders-for-shells-onshore-assets\/","url_meta":{"origin":662587,"position":2},"title":"Apache, Pharos Energy among bidders for Shell\u2019s onshore assets","author":"enterpriseam admin","date":"27 February 2020","format":false,"excerpt":"M&A WATCH- Apache, Apex, Cheiron among bidders for Shell\u2019s onshore assets: US oil and gas producer Apache, Egyptian firms Apex International Energy, Cheiron, and London-listed Pharos Energy have submitted bids for Shell\u2019s onshore oil and gas assets in Egypt, Reuters reports, citing informed sources. Other undisclosed Asian and Middle Eastern\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569832,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/four-bidders-for-shells-onshore-assets-in-egypt\/","url_meta":{"origin":662587,"position":3},"title":"Four bidders for Shell's onshore assets in Egypt","author":"enterpriseam admin","date":"9 March 2020","format":false,"excerpt":"More companies declare bids for Shell's onshore assets in Egypt: US oil and gas producers Apache and Apex International Energy, have reportedly submitted bids to acquire Shell's onshore assets in Egypt, Al Mal reported citing unnamed sources. The companies join other potential buyers, including Cheironand Pharos Energy. Background: Shell announced\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553940,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/qatar-energy-snags-17-stake-in-shells-red-sea-blocks\/","url_meta":{"origin":662587,"position":4},"title":"Qatar Energy snags 17% stake in Shell\u2019s Red Sea blocks","author":"enterpriseam admin","date":"14 December 2021","format":false,"excerpt":"Qatar Energy is set to acquire a 17% stake in two Shell-operated oil and gas exploration blocks in the Red Sea, the oil supermajor announced yesterday in a statement. The agreement, which is subject to government and regulatory approval, signals the first entry by the Qatari energy giant into Egypt\u2019s\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557608,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/26\/cheiron-cairn-energy-acquire-shells-western-desert-assets\/","url_meta":{"origin":662587,"position":5},"title":"Cheiron, Cairn Energy acquire Shell\u2019s Western Desert assets","author":"enterpriseam admin","date":"26 September 2021","format":false,"excerpt":"Shell is out of the Western Desert: Cheiron and partner Cairn Energy have acquired Shell\u2019s oil and gas assets in the Western Desert under an agreement in March that could be worth up to USD 926 mn, the three companies announced in separate statements on Friday (here (pdf), here and\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/350.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\/662587","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=662587"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/662587\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/662570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/662588"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=662587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=662587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=662587"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=662587"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=662587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}