BP, XRG Complete Formation of Arcius Energy Joint Venture-March 2024-www.financetom.com

BP, XRG Complete Formation of Arcius Energy Joint Venture

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BP, XRG Complete Formation of Arcius Energy Joint Venture

Dec 16, 2024 4:42 AM

07:23 AM EST, 12/16/2024 (MT Newswires) -- BP (BP) and XRG said they have reached a financial close and completed the formation of their Arcius Energy joint venture, a natural gas platform.

Arcius, 51% owned by BP and 49% by XRG, an investment company owned by Abu Dhabi National Oil, the company said.

The joint venture aims to grow a gas portfolio. It will operate initially in Egypt, the company said.

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