Eni discovers 2 trillion cubic feet of gas offshore Egypt
Eni (ENI.MI), opens new tab has made a gas and condensate discovery offshore Egypt after drilling the Denise W‑1 exploration well in the Temsah Concession in the Eastern Mediterranean, the Italian energy group said on Tuesday.
Preliminary estimates indicate about 2 trillion cubic feet of gas initially in place and 130 million barrels of associated condensates.
The discovery will help Eni to support Egypt's goal of boosting gas reserves and increasing production, the Italian company said.
Egypt's local gas production has fallen in recent years and the country is currently suffering from spillover effects of the Iran war, particularly in the energy sector, as it depends on imported fuel.
Eni's discovery is located around 70 km (43 miles) offshore in 95 metres (312 feet) of water depth and less than 10 km from existing infrastructure, creating substantial synergies for a fast‑track development.
The Denise W‑1 well was drilled following a binding agreement signed in July 2025 with Egyptian authorities to renew the Temsah Concession for 20 years.
Eni operates the Denise Development Lease with a 50% working interest alongside BP (BP.L), opens new tab, with operations conducted through Petrobel, Eni's joint venture with Egypt's state-owned oil company EGPC.