Capricorn Energy plc said it had reached an initial agreement for an improved gas price over its concessions in the Western Desert, Egypt. ASSETS The deal with state oil company Egyptian General Petroleum Corporation (EGPC) also outlines terms to “promote increased investment and production”. An improved gas price would be for “incremental production and new discoveries alongside […]
Tag: Western Desert – Egypt
Capricorn plans fewer than 40 posts in UK
Capricorn Energy plc today said that it aimed for a “substantially reduced headcount” in the UK, allowing it to focus on its onshore oil assets in Egypt. REDUNDANCIES 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. “In the […]
United starts 2021 drill campaign with ASH-3 well
United Oil and Gas plc announced the start of its 2021 drilling campaign with the ASH-3 development oil well in the Abu Sennan licence in the Western Desert, Egypt. SCHEDULE Kuwait Energy Egypt began operations on 4 January at the licence in which United holds a 22% working interest. The hydrocarbon exploration, development and production […]