Britain’s Capricorn Energy praised the progress of Egypt’s energy sector and the constructive cooperation with the Ministry of Petroleum and the Egyptian General Petroleum Corporation in overcoming challenges.
This positive environment encouraged the company to adopt a long-term strategy to double its business in Egypt, leveraging the country’s advanced infrastructure and highly skilled workforce.
The remarks came during a meeting on Wednesday February 25, 2026 between Minister of Petroleum and Mineral Resources Karim Badawi and a senior delegation from the British company, including CEO Randy Neely, Chief Operating Officer Geoff Probert and Managing Director of Capricorn Egypt Eleanor Rowley.
The meeting focused on the company’s activities in its concession areas in the Western Desert and reviewed plans to increase production rates.
The minister praised the company’s commitment to its operations in Egypt and emphasized that the ministry is moving forward with a new phase aimed at strengthening partner confidence and boosting investment flows.
He also noted that the ministry is finalizing more flexible contractual models that support the application of horizontal drilling and hydraulic fracturing techniques, and provide incentives to increase oil production, contributing to higher domestic output in line with the approved five-year plan.
For his part, the CEO of Capricorn Energy reaffirmed the company’s commitment to expanding its investments in its oil and gas operations in the Western
