Cairo: Arcius Energy, a collaboration between BP and ADNOC, is in discussions to initiate significant long-term projects in Egypt, as announced by Minister of Petroleum and Mineral Resources, Karim Badawi. The minister lauded the joint venture for selecting Egypt as its regional base during a meeting with the company's CEO, Naser Al Yafei.

According to State Information Service Egypt, Badawi noted Egypt's keen interest in developing these strategic projects to enhance cooperation with the UAE, especially in the oil and gas sector. The minister highlighted the Egyptian leadership's focus on the energy sector, emphasizing ongoing directives aimed at supporting investors and fostering a transparent investment environment.

Yafei, on his part, acknowledged Egypt's efforts in ensuring energy security under the Ministry's guidance. He reiterated Arcius Energy's dedication to investing in Egypt's energy sector, focusing on long-term projects that underscore the strong bilateral relations between Egypt and the UAE. Yafei also mentioned that discussions with Egyptian officials have been positive and align with the company's ambitious plans for Egypt.

Arcius Energy aims to expand its gas projects in Egypt, with plans to further extend its operations across the Eastern Mediterranean region.