NEWPORT BEACH, CA - August 12, 2025 - Argon Petroleum International Corporation is pleased to announce the appointment of Magdy Latif Bassaly Bichay as Management Consultant. A transformative figure in the global oil and gas industry, Mr. Bassaly brings over 30 years of leadership in upstream development, international diplomacy, and energy entrepreneurship across the Middle East, Africa, and North America.
A Trailblazer in Private Sector Oil Exploration.
Mr. Bassaly made history in 1997 as the first private Egyptian entrepreneur to sign a government oil exploration agreement for Block 11 in Sinai. In partnership with the Egyptian General Petroleum Corporation (EGPC), his company committed $15 million in investment and a $1.1 million signing bonus to explore the Abu Zenima region. This landmark agreement signaled a strategic shift toward private-sector participation in Egypt’s petroleum landscape and included seismic surveys and exploratory drilling. Then-Minister of Petroleum, Engineer Sameh Fahmy, praised the initiative for driving national economic growth and boosting investor confidence in the Sinai region.
Appointed to Argon Petroleum in 2023.
Mr. Bassaly was first appointed by Argon Petroleum as a Management Consultant on July 24, 2023. Since then, he has played a pivotal role in strategic development, including spearheading a $75 million exploration initiative in western Kentucky aimed at unlocking untapped domestic oil reserves.
Endorsed at the Highest Levels.
Mr. Bassaly’s contributions have drawn praise from high-ranking U.S. officials and decorated U.S. Army veterans who have formally endorsed him. These endorsements highlight Mr. Bassaly’s impact on U.S. energy policy and security. In support of his petition, one State Senator stated, “His work not only supports U.S. energy security but also fosters job growth and investment in critical regions.”
Technical Mastery Meets Humanitarian Vision.
Mr. Bassaly’s work credentials have been evaluated by U.S. academic authorities as equivalent to a doctorate degree. Known for transforming dormant oil sites into productive fields using enhanced recovery techniques such as steam injection, he is currently pioneering environmentally approved methods to rehabilitate oil-contaminated land in Huntington Beach, California. These methods—already licensed by the California Coastal Commission—are aimed at converting impacted land for future residential development.
He has held executive roles at Global Union Energy Ventures, SACOIL Holdings, and MENA International Petroleum, and has advised investment funds and oilfield service companies entering emerging markets. His leadership has extended to guiding public offerings and negotiating international concessions.
A Commitment Beyond Commerce.
Outside the energy sector, Mr. Bassaly is the founder of the New Life School in Egypt and an advocate for interfaith peace-building efforts in the Middle East. Dr. Kara von Dresner de Rothschild, a Harvard-trained psychologist and humanitarian, stated, “His dedication to making the planet better resonates in his humanitarian work and environmental innovations.”
About Argon Petroleum International Corporation.
Based in Newport Beach, California, Argon Petroleum specializes in acquiring and developing upstream oil and gas assets globally. Its mission is to unlock energy potential through expert-led projects while ensuring sustainable and responsible development.
Media Contact:
Argon Petroleum International Corp.: 2901 W. Coast Highway, Suite 200
Newport Beach, CA 92663
Phone: (949) 631-3374
Email: info@argonpetroleum.com
Media Contact
Company Name: Aknanda Productions PR Content Services
Contact Person: Reinaldo Vandres - PR Senior Manager/ Director
Email: Send Email
Phone: 714 926 1058
City: Tampa
State: Florida
Country: United States
Website: https://www.aknandaproductions.org/press-room
