Magapetco Plans Investments for its Hurghada Concession
Sunday, 2nd August 2015
Chairman Magawish Petroleum Company (Magapetco), Hamdi Hanafi, affirmed that his company’s investment plan for the 2015/2016 fiscal year includes pumping investments of over EGP 70m into its Hurghada concession area.
EGPC Studying Magapetco’s Hurghada extension request
Monday, 13th July 2015
An official source at EGPC told Al Mal newspaper that the Magawish Petroleum Company (Magapetco) was in negotiations with EGPC to discuss the possibility of extending the oil exploration concession in Hurghada for a 10-year term.