UK independent Capricorn (formerly Cairn) is hoping that increased activity in 2022 will see output from its newly acquired assets in Egypt rebound initially to 2020 levels and then beyond.

In March last year Capricorn and local Egyptian firm Cheiron agreed to pay a combined $646mn (potentially rising to $926mn) to Shell for its Bapetco producing concessions in Egypt’s Western Desert, along with three exploration blocks further east (MEES, 12 March 2021). (CONTINUED - 781 WORDS)