Middle East Economic Survey

VOL. LIII

No 15

12-April-2010

EGYPT

Aegean Energy Acquires East Magawish Block In The Red Sea

Greek oil and gas producer Aegean Energy has acquired 100% equity and assumed operatorship of Egypts East Magawish block from Thani Egypt East Magawish, it announced on 24 March. The 28 sq km offshore concession is the companys first outside Greece, and is located in the Red Sea close to the mouth of the Gulf of Suez. Aegean plans to spud its first exploration well on the block...