CanadianOxy Acquires 90% Interest In Magawish Block
Canadian Occidental Petroleum Limited (CanadianOxy) announced in Calgary on21 April that it has acquired a 90% working interest in the 7,000-acre(28.33-sq. km.) Magawish Block in the Gulf of Suez. The announcement, whichnoted that the acquisition and the development plan have been approved by theEgyptian authorities, said:
"The Magawish Block contains the undeveloped Esh El Mellaha Marine oilfield which was...