Capricorn builds an Egyptian platform for growth

The Edinburgh-headquartered producer sees its basin-entry acquisition as just the start of a journey that could even take it beyond oil and gas

UK-listed independent Capricorn Energy acquired, alongside local partner Cheiron, a portfolio of upstream oil and gas production, development and exploration interests in Egypt’s Western Desert from Shell in September last year. But, as Capricorn COO Paul Mayland tells Petroleum Economist, the deal is just the beginning of the journey. Mayland is upbeat about Egypt’s prospects, not least due to political will to support the sector that is not simply words but is translating into practical action on paying bills, reforming agreements and innovating on licensing. And he believes Capricorn brings a great deal to the Egyptian table in terms of its previous experience—leaving it well placed not o