IJGlobal Investor Awards 2025 – MENA Transaction Winner

The single winner in the transactions category of the IJGlobal Investor Awards 2025 for the Middle East and North Africa was announced this evening in The Savoy hotel on The Strand, London.

The packed Savoy ballroom was treated to an array of announcements to celebrate some of the most significant transactions to have closed during the judging period which runs from 1 August 2024 to 31 July 2025.

This story focuses exclusively on the MENA winner that was chosen by the independent panel where – as always – judges are recused from voting on awards where they have an interest.

The MENA winning deal is:

• Infrastructure Deal of the Year – BP and ADNOC's JV – Arcius

Infrastructure Deal of the Year

BP and XRG JV – Arcius

The JV between XRG and BP which has an initial focus on the development of gas assets in Egypt was chosen to win the infrastructure deal of the year.

It was described by one judge quite simply as “an important and large joint venture”.

This strategic partnership on Egyptian gas assets includes the contribution by BP to the JV of its interests in the Shorouk, North Damietta, North El Burg, North El Tabya, Bellatrix-Seti East and North El Fayrouz concessions.

The JV – 51% to BP and 49% to XRG – is known as Arcius Energy and will combine the pair’s deep technical capabilities and proven track records as it aims to grow a gas portfolio.

As part of the agreement, BP will contribute its interests in 3 development concessions as well as exploration agreements in Egypt to the new JV.

The JV is unique as it combines the strengths of both a major international oil company with a state-owned oil company to focus on developing a specific regional natural gas market.

It offers a platform for international growth that advances a long-standing and strategic partnership between ADNOC and BP that spans more than 50 years.

The partnership will also enhance Egyptian energy security and the economic potential of the region’s most populous Arab country.