Eni S.p.A. announced a 2 trillion cubic feet discovery of natural gas and condensate in the Temsah Concession off the coast of Egypt, following the drilling of the Denise W‑1 exploration well.
The Denise W‑1 well was drilled 70 km offshore in 95 m of water depth and is located less than 10 km from existing infrastructure. Preliminary estimates indicate 130 million barrels of associated condensates in addition to the gas reserve.
The discovery comes after a 20‑year renewal of the Temsah Concession signed in July 2025, and it is operated by Petrobel, a joint venture between Eni and the Egyptian General Petroleum Corporation. Eni and BP each hold a 50 % stake in the Denise Development Lease that covers the concession.
Strategically, the find allows Eni to fast‑track development in a region where the company is already investing $8 billion in exploration and production. The proximity to existing infrastructure reduces upfront capital costs and shortens the time to production, supporting Eni’s broader transition strategy toward high‑quality, low‑cost resources.
For Egypt, the discovery strengthens national energy security by adding to domestic reserves and reducing reliance on imported liquefied natural gas. It also aligns with the country’s goal of boosting gas production and supports regional supply chains for European markets.
"The discovery reinforces Eni’s commitment to supporting Egypt’s national goals of boosting reserves and increasing gas production, thereby strengthening the country’s energy security."
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