Cairo: Britain's Capricorn Energy has announced plans to double its business operations in Egypt, highlighting the positive developments in the country's energy sector.

According to State Information Service Egypt, the company expressed appreciation for the collaborative efforts with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation, which have facilitated overcoming various challenges.

The announcement was made during a meeting on February 25, 2026, between Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, and a senior delegation from Capricorn Energy. The delegation included CEO Randy Neely, Chief Operating Officer Geoff Probert, and Managing Director of Capricorn Egypt Eleanor Rowley. The discussions centered around Capricorn's activities in its concession areas in the Western Desert, with a focus on plans to increase production rates.

Minister Badawi commended Capricorn Energy's commitment to its operations in Egypt and emphasized the ministry's dedication to fostering a conducive environment for investment. He noted that the ministry is advancing a new phase aimed at enhancing partner confidence and encouraging investment flows. Additionally, the ministry is in the process of finalizing flexible contractual models that support advanced drilling techniques and offer incentives to boost oil production, aligning with the approved five-year plan.

CEO Randy Neely reiterated the company's commitment to expanding its investments in Egypt's oil and gas sector, particularly in the Western Desert, to capitalize on the country's skilled workforce and advanced infrastructure.