On 11 November 2017, Trident Petroleum signed an Exploration & production agreement with EGPC for the Magawish block, Gulf of Suez. The deal includes a minimum expenditure of USD 2.4 million and a bonus of USD 500,000. The company is committed to drilling four wells in the block. The Magawish block may refer to North Magawish that was pre-awarded to Cherion-Pico in August 2015. On 3 August 2015, Ganope announced that Cheiron Magawish (Cherion-Pico) was awarded the North Magawish (Block 4) concession as a result of the Ganope International Bid Round 2014. The block covers 194 Sq mm and it is located in the Gulf of Suez Basin in water depth up to 57 m. The block already includes 10 wells drilled between 1922 â 2006 by SUCO, SHELL, Amoco, and Lukoil. Prospective resources at the North Magawish block are estimated at a total of 4.21 MMbo. Commitments include a minimum investment of USD 23.5 million and a signing bonus of USD 1 million to drill two exploration wells. 
Trident has been awarded Magawish block (194kmÂ²).