Aegean takes control of Egyptian offshore license

AEGEAN ENERGY HAS acquired 100% of the East Magawish block concession in the Gulf of Suez from Thani Egypt East Magawish.

Recently, 3D seismic has been acquired over the 28-sq km block, and Aegean expects to spud its first exploration well later this year as part of a three-well commitment.
Aegean says the license area is surrounded by several multi-reservoirs fields, and is favourably positioned close to existing infrastructure in the southern part of the Red Sea.

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