Capricorn Energy plans to double Egypt operations – petroleum ministry

The discussions reviewed plans to increase output and strengthen the company’s presence, particularly in the Western Desert, where Capricorn operates key oil and gas fields. Neely said constructive cooperation with the Egyptian General Petroleum Corporation (EGPC) and progress in the country’s energy sector encouraged the company to adopt a long-term growth strategy leveraging advanced infrastructure and skilled personnel.

Minister Badawy praised Capricorn’s commitment to Egypt and highlighted a new phase of reforms aimed at boosting investor confidence and increasing investment flows. Measures include timely settlement of dues, the provision of updated geological data, and the offering of new investment opportunities.

Badawy added that the ministry is close to finalising more flexible contractual models to support horizontal drilling and hydraulic fracturing technologies. These incentives are intended to increase domestic oil production in line with Egypt’s approved five-year energy plan.