Arcius Eyes Expanding its Business in Egypt
Minister of Petroleum and Mineral Resources Karim Badawi received Nasser Al-Yafei, the CEO of Arcius, which is the joint venture between bp and XRG in Egypt.
They discussed the company’s activities in its concession areas in Egypt and the investment opportunities available in the gas sector, in light of the company’s strong desire to transform Egypt into a starting point for its activities in the Eastern Mediterranean region.
During the meeting, Badawi stressed that bp and XRG’s choice of Egypt to start their partnership in the field of natural gas is strong evidence of the attractiveness of the investment climate of the Egyptian petroleum sector, noting that the Ministry of Petroleum and Mineral Resources (MoPMR) provides full support to foreign companies operating in the fields of oil, gas and mining.
The Minister added that the key to achieving success stories is integrated work and strategic partnerships, and that Egypt is working to expand regional cooperation in the field of oil and gas to achieve common goals to unleash the potential of the Eastern Mediterranean region.
Badawi pointed to the efforts of the Egyptian government to diversify the energy mix and increase the contribution of renewable energies to it with the aim of benefiting from natural resources in achieving value-added goals, adding that the petroleum sector is working in several directions to provide attractive incentives for petroleum investments.
For his part, Al-Yafei confirmed that the Egyptian oil and gas sector has attractive investment opportunities and that the company seeks to expand its activities in Egypt and consider it a starting point for it in the Eastern Mediterranean region, and strengthen relations between Egypt and the Emirates.
He expressed his aspiration to participate in the activities of the Egypt Energy Show Conference and Exhibition (EGYPS 2025), which stressed the importance of its sessions that address the challenges facing the petroleum industry and work to find effective solutions for them.
He pointed out that XRG, the investment company specializing in the fields of low-carbon energy and chemicals and affiliated with the Emirati company ADNOC, will participate in the conference activities.