Aegean Energy has acquired 100% of the East Magawish block concession in the Gulf of Suez from Thani Egypt East Magawish.
Offshore staff
ATHENS -- 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 (10.8-sq mi) 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 favorably positioned close to existing infrastructure in the southern part of the Red Sea.
