Capricorn Energy plc today said that it aimed for a “substantially reduced headcount” in the United Kingdom allowing it to focus on its onshore oil assets in Egypt. REDUNDANCY PROCESS The news comes as the Edinburgh-based company’s new management starts a comprehensive strategic review of its business and the “several potential directions” for its future. […]
Tag: Cheiron Petroleum Corp
Cairn to acquire onshore Egypt assets
Cairn Energy plc and partner Cheiron Petroleum Corp hope to purchase a portfolio of upstream oil and gas assets for US$646 million ($323m net to Cairn) in the Western Desert, onshore Egypt. The acquisition of hydrocarbon production, development and exploration interests from Shell Egypt NV and Shell Austria GmbH (Shell) will have an additional contingent […]