Eni Makes Major Gas Discovery Offshore Egypt, Holds 2tn Cubic Feet

Italian energy company Eni has made a significant gas and condensate discovery offshore Egypt, following drilling of the Denise W‑1 exploration well in the Temsah Concession in the Eastern Mediterranean.

A press release by ENI said that preliminary estimates indicate about 2 trillion cubic feet of gas in place and 130 million barrels of associated condensates.

The discovery, located approximately 70 kilometres offshore in 95 metres of water and less than 10 kilometres from existing infrastructure, is expected to allow rapid development and support Egypt’s efforts to expand gas reserves and increase production. Eni operates the Denise Development Lease with a 50% stake alongside BP, through Petrobel, its joint venture with Egypt’s state-owned EGPC.

The well was drilled following a binding agreement signed in July 2025 with Egyptian authorities to renew the Temsah Concession for 20 years. The find comes at a time when Egypt’s local gas production has declined, partly due to regional tensions affecting energy imports.

Eni said the discovery will create substantial synergies for fast-track development and help the country meet rising energy demands.