Egypt, Capricorn Energy discuss expanding oil, gas operations in Western Desert

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawy met with Randy Neely, CEO of Britain’s Capricorn Energy, to review the company’s operations in Egypt and explore plans for expansion, the ministry said Tuesday.

The meeting, held on the sidelines of the World Energies Summit in London, focused on increasing Capricorn’s activities through Badr El Din Petroleum Company (Bapetco) in the Western Desert and the potential addition of new exploration areas in cooperation with the Egypt Upstream Gateway (EUG).

Neely praised the Egyptian government’s commitment to settling dues owed to foreign partners, saying the policy strengthens investor confidence and supports efforts to attract new investments aimed at boosting oil and gas production.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser