Indigenous gas firm, Arcius Energy, has taken a final investment decision (FID) to develop the Harmattan gas field offshore Egypt, committing up to $500 million to the project.
The company disclosed this in a statement on Tuesday, noting that the development will take place within the El Burg offshore concession and is aimed at boosting natural gas supply to Egypt’s domestic market.
Arcius said the Harmattan field development is one of its first major projects in Egypt following its acquisition of the concession earlier in 2026.
“The Final Investment Decision to develop the Harmattan field marks an important milestone in advancing one of our first projects in Egypt toward production,” Chief Executive Officer, Naser Al Yafei, said.
He added that the project reflects the company’s long-term commitment to the country’s energy sector.
“It reflects our confidence in the potential of Egypt’s energy sector and our commitment to close cooperation with the Egyptian government, EGAS, and our execution partners,” he said.
Partnership with Egyptian firms
The project will be developed in collaboration with the Egyptian Natural Gas Holding Company and other local partners.
Arcius said engineering, procurement, construction and installation (EPCI) contracts have been awarded to ENPPI, while Petroleum Marine Services and Petrojet will participate as subcontractors.
The company currently holds a 100 per cent operating stake in the El Burg offshore concession, which includes the Harmattan gas field.
Al Yafei said the project is expected to contribute to strengthening Egypt’s energy security and support its position as a regional gas hub.
“Our commitment is to strengthen Egypt’s natural gas supply, support energy security, and reinforce Egypt’s position as a regional energy hub in the Eastern Mediterranean,” he said.
Backed by global energy investors
Moreover, Arcius was established in 2024 as a regional gas platform backed by bp and ADNOC through its international investment arm XRG.
The company focuses on developing gas assets in Egypt and across the Eastern Mediterranean region, as demand for natural gas continues to grow amid global energy supply shifts.
The Harmattan project forms part of broader efforts by Egypt to increase domestic gas production and reduce reliance on imports, while attracting foreign investment into its upstream sector.
