The discussions focused on potential exploration opportunities through participation in Egypt’s upcoming international licensing rounds, particularly in onshore areas near Capricorn Energy’s existing assets.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, held talks with Chris Spencer, Managing Director of Norwegian energy company DNO, and Sameh Hanna, the company’s General Manager for the Middle East, to discuss plans to enter the Egyptian market and expand investments in the oil and gas sector.
The discussions focused on potential exploration opportunities through participation in Egypt’s upcoming international licensing rounds, particularly in onshore areas near Capricorn Energy’s existing assets.
Such expansion could create synergies between concession areas and existing infrastructure, optimize the use of available petroleum resources, and open new opportunities to increase production.
The talks come as DNO pursues the acquisition of Capricorn Energy, which holds interests in several concessions in Egypt’s Western Desert and operates through Badr El Din Petroleum Company (Bapetco).
Badawi welcomed DNO’s plans to expand its presence in Egypt, noting that the company’s interest in making the country a key market reflects growing confidence in investment opportunities within the oil and gas sector.
He highlighted the government’s ongoing efforts to improve the investment climate and attract additional capital, particularly in exploration, development, and production activities.
The minister also emphasized the importance of leveraging DNO’s advanced operational and technological expertise to accelerate new well drilling programs and workovers of existing wells.
He stressed the need to adopt modern technologies to enhance operational efficiency and improve recovery rates, supporting higher crude oil and condensate production from Capricorn’s Western Desert assets.
The discussions also addressed opportunities to develop natural gas resources and boost gas production, as part of broader efforts to maximize output from Egypt’s existing petroleum assets.
