Arcius Energy plans to drill two Mediterranean gas wells in Egypt

Arcius Energy is set to begin drilling two new gas exploration wells in Egypt’s Mediterranean waters as part of a broader campaign to expand upstream activity, Economy Plus reported on March 19, citing a statement from the Ministry of Petroleum.

Arcius Energy is an international natural gas joint venture between UK energy major BP (LSE: BP) (51%) and XRG, a subsidiary of Abu Dhabi’s ADNOC (49%), focusing on gas assets in Egypt. The company holds a 10% stake in the Shorouk concession (which contains the massive Zohr gas field) and 100% of the North Damietta concession (which includes the Atoll field).

The planned wells, named Atoll West and Nofrit, form part of Egypt’s wider strategy to boost exploration and production, with the petroleum sector aiming to drill more than 100 oil and gas wells through 2026 in partnership with international investors, according to the statement. 

In preparation for the drilling programme, Arcius Energy confirmed that the drilling vessel Valaris DS-12 has departed from Las Palmas port in Spain and is en route to Egypt. The company said it is committed to expanding investments in Egypt to support the country’s plans to become a central hub for its operations in the Eastern Mediterranean.

Arcius is also implementing a five-year plan to double production levels and support the development of Egypt’s gas resources. The company recently reached an agreement to develop the Harmattan gas field in the Mediterranean, with first production expected by early 2028.

The move is in line with broader efforts by the Egyptian government to enhance energy security, increase domestic production, and attract foreign investment into the oil and gas sector, particularly offshore exploration.