Arcius Energy is a dynamic new platform for international growth, which will initially focus on development of natural gas assets in Egypt to meet the growing regional demand, while supporting the country’s energy security and economic development.

Dec 27, 2024

bp and XRG, ADNOC’s international energy investment company, have completed the formation of their new joint venture and international natural gas platform – Arcius Energy, which will initially focus on development of gas assets in Egypt.

Building on 50 years of partnership between ADNOC and bp, Arcius Energy is a dynamic new platform for international growth in natural gas in the region, which is 51 percent owned by bp, while XRG holds 49 percent stake in the joint venture.

Announced in February 2024, the project complements the companies’ strategic growth plans and aims to grow a highly competitive gas portfolio by combining their deep technical capabilities & proven development track records. 

It will initially operate in Egypt, including interests assigned by bp across two development concessions, as well as exploration agreements.

“Arcius Energy brings together the strengths of our two companies to create a dynamic new platform for international growth in natural gas in the region,” said Murray Auchincloss, chief executive of bp.

H.E. Dr. Sultan Ahmed Al Jaber, Executive Chairman of XRG said, “The formation of Arcius Energy marks an exciting new chapter in our long-standing partnership with bp, and fully aligns with XRG’s objectives to accelerate the transformation of energy systems and build a world-scale integrated gas and chemicals portfolio to meet rising global demand. This 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.”

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Murray Auchincloss, chief executive of bp, added, “Arcius Energy brings together the strengths of our two companies to create a dynamic new platform for international growth in natural gas in the region. ADNOC, and now XRG, is a trusted partner, who we have worked with successfully for over five decades. Together, we can continue to build on bp’s 60 years of technical expertise and delivery of safe and efficient operations in Egypt – a hub for new opportunities to build out a highly competitive gas portfolio in the region.”