Egypt, Capricorn Energy Talk Upstream Future Plans

SEATTLE (Oil Monster): Minister of Petroleum and Mineral Resources, Karim Badawi, met with Randy Neely, CEO of Capricorn Energy PLC, and Eleanor Rowley, the company’s Managing Director in Egypt, in the presence of Salah Abdel Kerim, Chairman of the Egyptian General Petroleum Corporation (EGPC). The meeting discussed the company’s activities in its concession areas in the Western Desert of Egypt and its future plans to intensify upstream activities.

During the meeting, Badawi stated that the petroleum sector is implementing an intensive research and exploration program in cooperation with its foreign partner companies operating in Egypt, with the aim of increasing oil and natural gas production and reducing the import bill.

Badawi emphasized the Ministry’s commitment to overcoming challenges and strengthening partnerships in support of its goals to attract investment and boost domestic production.

For his part, Neely emphasized the importance of fostering a spirit of cooperation and partnership, and continuously working to improve the investment climate, incentivize investors, and ensure successful coordination with the Ministry and EGPC in this regard.

Neely revealed the company’s plan to intensify oil and gas exploration activities in its concession areas in the Western Desert with the aim of increasing production.

Courtesy: www.egyptoil-gas.com