News Oil & Gas

Capricorn’s payment from Sangomar first oil at risk

Capricorn Energy plc’s expected $25 – $50m contingent payment hangs in the balance after first oil was moved to next year from the Sangomar field development, offshore Senegal. SPA AGREEMENT The change of date comes after Australian operator Woodside Petroleum’s today targeted first oil, initially due in late 2023, to mid-2024. Capricorn said that it […]

News Oil & Gas

Capricorn pays $4.3m to governments for 2022

Capricorn Energy plc reported a total $4,339,000 payments during 2022 to governments for its oil and gas assets. The company paid $2,503,000 to Mexico; £264,000 to the UK; £1,515,000 to Mauritania; and $57,000 to Israel. Payments are for licence fees and also include £4,000 taxes in the UK.

Company Moves News Oil & Gas

Capricorn appoints Hesham Mekawi as deputy chairman

Capricorn Energy plc has appointed Hesham Mekawi as non-executive deputy chairman. Appointed as a director in February, Mr Mekawi is an Egyptian national resident in Cairo and long-time former regional president of BP North Africa. His role will be to focus on supporting and working closely with chief executive officer Randy Neely to address the […]

Finance News Oil & Gas

Capricorn cuts costs by $35m

Capricorn Energy plc has reduced general and administrative costs by an initial $35 million as it continues to focus more on its assets in Egypt. DIVESTMENTS Chief executive officer Randy Neely added at today’s general meeting that the company would pursue “further meaningful cost savings.” The cost-cutting measures also extend to Capricorn’s assets outside Egypt, […]