DUBAI: BP and Abu Dhabi National Oil Company’s international investments arm XRG said on Monday they have closed a deal for a new natural gas joint venture in Egypt, as ADNOC expands its efforts to grow abroad.
The joint venture, Arcius Energy, is 51 percent owned by BP and 49 percent owned by XRG. It will operate in Egypt initially.
Naser Saif Al-Yafei, an ADNOC veteran, was hired as Arcius’ chief executive. He most recently led strategy, sustainability and transformation at subsidiary ADNOC Gas. Katerina Papalexandri, vice president of gas and low carbon energy growth at BP, was appointed chief financial officer.

“Arcius Energy brings together the strengths of our two companies to create a dynamic new platform for international growth in natural gas in the region,” BP Chief Executive Murray Auchincloss said in the statement, adding that Egypt was “a hub for new opportunities to build out a highly competitive gas portfolio in the region.”
Sultan Al-Jaber, XRG executive chairman and ADNOC CEO, said the JV “fully aligns with XRG’s objectives to accelerate the transformation of energy systems and build a world-scale integrated gas and chemicals portfolio to meet rising global demand.”
Arcius’ concessions in Egypt comprise a 10 percent interest in Shorouk, which contains the giant Zohr field operated by Eni and 100 percent of North Damietta, which contains the producing Atoll field operated by the Pharaonic Petroleum Company.

It also has exploration concession agreements for North El Tabya, Bellatrix-Seti East and North El Fayrouz.
ADNOC announced last week that the newly-created XRG’s board members include Blackstone’s Jon Gray and former BP boss Bernard Looney, who was dismissed by BP’s board last December after the oil major said he had knowingly misled the board by failing to disclose past relationships.
The appointment of big names from the world of finance and energy to XRG’s board signals its grand ambitions, as ADNOC pursues its aggressive growth strategy.
XRG, which ADNOC said is valued at more than $80 billion, will focus on overseas investments in low-carbon energy, including gas, chemicals and renewables.

JEDDAH: Saudi Arabia’s Ministry of Human Resources and Social Development ranked first among ministries and second overall with government agencies in the 2024 Digital Transformation Index, underscoring the nation’s commitment to technological advancement.

The award ceremony, held on Dec. 15 in Riyadh, was part of the Digital Government Forum, which featured panel discussions, workshops, and presentations from experts in areas such as artificial intelligence, cybersecurity, and e-services. 

The event coincided with the 19th edition of the UN Internet Governance Forum, hosted in the Saudi capital from Dec. 15— 19 under the theme “Building our Multistakeholder Digital Future.”

The index assesses government agencies’ adherence to key digital transformation standards, analyzes their current progress, and tracks the development of their digital journey based on best practices, aligning with the goals of Saudi Vision 2030.

Following the Ministry of Human Resources and Social Development, the Ministry of Justice ranked second in the innovation category of the index, the Ministry of Transport and Logistic Services came third, the Ministry of Hajj and Umrah was fourth, and the Ministry of Energy came in fifth, among 24 ministries.

The Ministry of Human Resources and Social Development also received an excellence certificate from the Digital Government Authority for its Mowaamah application, which supports services for individuals with disabilities, recognizing its impactful contributions to digital transformation and leadership in this field, according to the ministry.

The body also earned another certificate for its use of emerging technologies at the government level, awarded by the Digital Government Authority.

These recognitions highlight the ministry’s commitment to digital transformation, focusing on enhancing beneficiary experiences by employing advanced technologies and offering innovative solutions, the Ministry of Human Resources and Social Development said in a statement.

It added that its digital transformation strategy strengthens services across over 1,000 digital services and procedures, benefiting more than 32 million people.

According to the UN’s biennial E-Government Development Index for 2024, published in September, Saudi Arabia rose 25 ranks, positioning itself among the leading countries in global rankings.

The Kingdom ranks first in the region, second among G20 countries, and seventh on the E-Participation Index. Riyadh is also ranked third among 193 global cities.

The compilers of the index also praised Saudi Arabia for its significant developments in the field of digital government, thanks to which it ranked sixth in the world.

The UN report highlighted that the Kingdom has achieved 100 percent maturity in digital government regulations, as well as in the accessibility and sharing of open government data with citizens and businesses.