AsiaMiddle East

BP and Adnoc launch new Egyptian JV

By LNG Prime Staff
BP and Adnoc launch new Egyptian JV
Image: BP

Energy giants Adnoc and BP have reached financial close and completed formation of their new joint venture in Egypt that will focus on natural gas. Announced in February 2024, Arcius Energy is 51 percent owned by BP and 49 percent by XRG, Adnoc’s investment company. Adnoc recently launched XRG, with an enterprise value of over…

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