Karim Badawi, the Minister of Petroleum and Mineral Resources, held talks with senior executives from UK-based Capricorn Energy to review the company’s operations in the Western Desert and its plans to raise oil and gas production. The delegation included Capricorn Energy CEO Randy Neely, Chief Operating Officer, Geoff Probert, and the Managing Director of Capricorn Energy PLC Egypt, Eleanor Rowley.
Discussions focused on the company’s concession areas and strategies to increase output, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR). Badawi praised the company’s commitment to its operations in Egypt. He added that the ministry is implementing a new phase aimed at strengthening partner confidence and attracting further investment.
Furthermore, Badawi added that the government is close to finalizing more flexible contractual models. These will support the use of horizontal drilling and hydraulic fracturing technologies and offer incentives to boost oil production, noting that these procedures will help raise domestic output in line with the approved five-year plan.
For his part, Neely reaffirmed Capricorn Energy’s commitment to expanding investments in its Western Desert assets. He said recent progress in Egypt’s energy sector and constructive cooperation with the ministry and the Egyptian General Petroleum Corporation (EGPC) have encouraged the company to adopt a long-term strategy to scale up its operations. He added that Capricorn aims to leverage Egypt’s developed infrastructure and skilled workforce as it seeks to double the size of its business in the country.
Capricorn Energy, through its subsidiary and joint venture (JV) with Cheiron Oil and Gas Limited, has been advancing operations in Egypt’s Western Desert since acquiring upstream oil and gas assets in 2021. In December 2025, Egypt’s cabinet ratified a $208 million exploration and development agreement covering multiple blocks in the Integrated Badr El‑Din (BED) area, involving Capricorn and its partners.
