Archeos Expands Investments in Egypt’s Gas Sector by Developing the Harmattan Field in the Mediterranean

UAE’s Archeos Expands Investments in Egypt’s Gas Sector

                      

UAE’s Archeos Expands Investments in Egypt’s Gas Sector by Developing the Harmattan Field in the Mediterranean

In a move that underscores global investors’ confidence in the Egyptian economy and energy sector, Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, and Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and CEO of ADNOC Group, witnessed the signing of a new acquisition agreement between the Egyptian Natural Gas Holding Company (EGAS), Archeos, Shell, and BP. The signing took place on the sidelines of the ADIPEC 2025 conference and exhibition in Abu Dhabi, the capital of the UAE.

Under the agreement, Archeos acquires all production and exploitation rights in the Burj offshore concession area in the Mediterranean Sea, including the Harmattan field development contract, after acquiring all the rights and obligations of Shell and BP. This step confirms Archeos’ confidence in the Egyptian investment climate and its desire to expand its operations in the exploration and production sectors.

The company plans to inject new investments to develop the field and bring it online as soon as possible, as part of an ambitious expansion strategy aimed at strengthening its presence in the Egyptian market and developing its operations in the Mediterranean.

Archius is a rising energy company with a diversified investment portfolio that includes several offshore concessions in Egypt. It is implementing exploration and development programs aimed at increasing production rates and solidifying its position as a key partner in the Egyptian oil and gas industry.

Following the signing, the two ministers held discussions on ways to enhance cooperation in the energy sector. Minister Karim Badawi affirmed the Egyptian petroleum sector's commitment to continuing to work with all strategic partners to attract further investments and maximize the utilization of existing assets and infrastructure to increase oil and gas production.

The minister also commended ADNOC's role, through its subsidiary XRG, in supporting energy projects in Egypt, expressing his aspiration to strengthen cooperation in the fields of artificial intelligence and low-carbon solutions to reduce emissions and improve production efficiency. 

For his part, Dr. Sultan Al Jaber emphasized the importance of expanding Archeos' investments in the Egyptian gas sector through the development of the Harmattan field, noting that Egypt is a promising regional energy hub thanks to its strategic geographic location and advanced infrastructure.

At the conclusion of the meeting, Minister Karim Badawi extended a formal invitation to Dr. Sultan Al Jaber to be the guest of honor and keynote speaker at the upcoming Egypt International Energy Conference (EGYPES 2026), praising the distinguished relations between Egypt and the UAE and their ongoing cooperation in the fields of petroleum and clean energy.