Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with executives from Capricorn Energy to explore ways to increase the company’s investments and production in the Western Desert. The discussions highlighted ongoing operations and plans for growth in Egypt’s energy sector. Both sides expressed commitment to enhancing cooperation and output.
On February 25, 2026, Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, convened with a delegation from Capricorn Energy in Cairo. The group included Randy Neely, the company’s Chief Executive Officer; Geoff Probert, Chief Operating Officer; and Eleanor Rowley, General Manager of Capricorn Egypt. The talks centered on broadening Capricorn’s investments in Egypt, particularly in its Western Desert concession areas, and elevating oil and gas production levels.
Badawi praised Capricorn’s dedication to its Egyptian operations. He outlined the ministry’s new initiatives to build partner confidence, including timely payment of dues, provision of current geological data, and introduction of fresh investment prospects. The minister also noted the impending finalization of adaptable contract frameworks to facilitate technologies like horizontal drilling and hydraulic fracturing. These changes aim to provide incentives for higher petroleum yields, supporting the government’s five-year production strategy.
Randy Neely, Capricorn’s CEO, reaffirmed the firm’s resolve to ramp up investments in the Western Desert. He attributed this optimism to favorable shifts in Egypt’s energy landscape and effective collaboration with the ministry and the Egyptian General Petroleum Corporation (EGPC) in overcoming hurdles. Neely indicated that the company intends to pursue a sustained approach to double its operations in Egypt, leveraging the nation’s robust infrastructure and expert labor force.
The session also featured Salah Abdel Karim, CEO of EGPC; Ihab Ragaa, First Undersecretary for Production; and Samir Raslan, Undersecretary for Agreements and Exploration.