Egyptian independents plan busy year

The country is improving its attractiveness, but decline rates make activity a must

Five London-listed independents have detailed programmes for Egyptian drilling in 2022, as the country’s offer of access to productive acreage and improved fiscal terms ticks producers’ boxes. But to some extent, work is not optional, given drops in production when Egypt’s fields are not worked over. Capricorn Energy is in bullish mood about the Western Desert interests it purchased late in the third quarter of last year. "We are very encouraged by the initial operating performance,” says CEO Simon Thomson, given “production growth ahead of expectations”. The firm’s production from its four licences—Obaiyed (50pc ownership), Badr El Din (50pc), North East Abu Gharadig (26pc) and Alam El Shaw