The Arcius JV of Abu Dhabi’s XRG and UK major BP has made its first expansion investment since its formation last year (MEES, 20 December 2024). Arcius signed an acquisition agreement with state firm EGAS to obtain the El Borg concession that contains the Harmattan field from UK major Shell.
The field lies just north of Damietta in relatively shallow waters (see map, MEES, 7 November). (CONTINUED - 213 WORDS)