Working responsibly


Delivering on our strategy, achieving our objectives and creating long-term value for our shareholders requires robust, transparent corporate governance. Good governance requires us to protect the business and our stakeholders by doing what is right.

We protect our business against existing and emerging risks through comprehensive policies and management systems, underpinned by our core values, business principles, standard operating procedures and corporate responsibility management system.



Our key environmental objectives are:

  • We manage risk and seek to continually improve.
  • We behave honestly, fairly, with integrity and in a sustainable manner.

We have identified ten material issues that direct our focus within this arena.

Managing a Just Transition

Achieving a Just Transition enables all communities and parts of society to benefit from a net zero economy and leaves no groups or individuals behind or worse off in the process.

A Just Transition is also central to Capricorn Energy’s overall sustainability commitment. It is implicit that we prepare the skills of our local workforces and communities for these future challenges and opportunities.

A central dynamic for Capricorn as part of managing a Just Transition to net zero is recognising its role in supporting Egypt as a developing economy. Egypt is a net importer of oil and gas, and with 100% of Capricorn’s product used within the domestic market, Capricorn will continue to provide a high-quality product to Egypt whilst implementing increasingly efficient production initiatives.

Building & Maintaining a Responsible Supply Chain

It is a guiding principle at Capricorn Energy that we only do business with suppliers who share our values.

Specifically, this means two things. They must be able to demonstrate to us that they act within the letter and spirit of all applicable laws, and we also expect that the work they perform for us, and any goods they use or supply, is executed or sourced in a sustainable way.

Decommissioning, Closure & Rehabilitation Commitment

We have introduced an OMS model that focuses on sustainability issues throughout all phases of an asset life cycle, looking at the resource reuse and recycling, rehabilitation, health and safety and social impacts associated with that particular asset.

Although we tend to exit an asset before the decommissioning stage begins, we have a management plan to ensure best practices are followed to enable the sustainable decommissioning of an asset to happen in the future.

Ethics, Transparency & Regulatory Compliance

Capricorn requires the highest standard of ethics, strong reporting transparency and compliance with all appropriate regulations to maintain our licence to operate and this builds trust for our employees, partners, host countries and wider stakeholders. The culture of the Company is about working responsibly and the Board, ExCo and Management Teams are accountable for ensuring this happens through transparent reporting, making additional disclosures, reporting tax and payments to Governments and by engaging transparently with all our stakeholders.

Anti-Bribery & Corruption Practices

We have a zero tolerance position on bribery, fraud and corruption. We have developed mitigation measures and undertake anti-bribery and corruption assessments whenever we enter a new territory or seek new business partners, and maintain due diligence in all of our operating locations even when our presence is established. Our business partners, service providers and staff are expected to act with honesty and integrity, while all of our employees are trained in anti-bribery and corruption policies and procedures. 

Robust Whistleblowing Mechanisms

We take grievances and complaints of wrongdoing by employees or external stakeholders seriously and will take the most appropriate action in response. We provide clearly accessible and confidential channels through which reports can be made and our grievance mechanisms are provided in many languages. All employees, contractors and suppliers are required to sign and adhere to the terms of our Code of Ethics, with audits for the latter two to ensure its constant application.

Emergency Preparedness & Crisis Management

We have a CMAPP protocol and other arrangements in place to ensure we assess and address any potential risks to our people, operations, assets and surrounding communities. A detailed review of this procedure took place in 2022 to meet the needs of major accident prevention competency and a linked training manual is available on our learning portal. In Egypt, an Emergency Response Plan has been put into place with appropriate training and simulations given to staff.

Data & Cyber Security

We recognise the threat of data and cyber security breaches to an oil and gas company and have put measures in place to protect our corporate infrastructure and data storage. These arrangements are regularly assessed against current or potential threats and regular communications highlight the potential dangers to our employees. We act in compliance with GDPR requirements with mandatory training given to staff to maintain GDPR compliance and internal risk governance.

Investment in Clean Technologies & Business Innovation

As we develop our assets, we need to find ways to use cleantech to increase our operational efficiency in order to minimise our emissions. Our major focus is currently on decarbonising our Egyptian operations, implementing a number of initiatives such as replacing diesel generators, electrifying well sites and integrating solar power options where possible in order to reduce our GHG emissions. We support that focus by looking at carbon capture, utilisation and storage opportunities. 

Linking Remuneration & Incentivisation to Sustainability and Other Non-Financial Performance Measures

To demonstrate the importance of sustainability to the company ethos, sustainability and other ESG matters link to senior management remuneration and incentivisation packages. The Company’s performance in areas such as D&I implementation, the positive impact of social investment, the progress and emission reductions of our net zero pathway and the communication of our environmental strategies across the Group are all used to determine Executive Director bonus opportunities. 

Case Study

Methane Thermal Plasma Electrolysis

Hydrogen production, either using either thermal, catalytic, plasma pyrolysis or plasma splitting decomposition holds the potential to offer a promising route to decarbonise oil and gas operations by splitting methane (a potent greenhouse gas), into hydrogen and inert carbon black. Hydrogen produced in this manner can typically be viewed as low emission, with carbon black having many uses within industrial applications such as concrete, soil enhancement and water purification. Deployment of these processes could reduce flare gas emissions and reduce consumption of sales gas through the utilisation of hydrogen for power generation, providing significant opportunities to reduce operational emissions.                            



In 2023, Capricorn contracted HiiROC whose Thermal Plasma Electrolysis (TPE) technology was assessed in a laboratory-based feasibility study to understand the suitability of using Capricorn’s non-operated gas waste streams to produce hydrogen and carbon black of commercial value. The initial proof of concept has been a success, and we have now progressed to an initial commercial screening study to identify favourable plant schemes and potential value chain off-takers within the Egyptian market. The schemes under consideration include flare mitigation, power generation from produced hydrogen, and the development of a hydrogen hub.

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