Eni has discovered an estimated 2 trillion cubic feet (Tcf) of gas and 130 million barrels of associated condensates in Egypt’s Eastern Mediterranean, the company announced.
The find was made through the successful drilling of the Denise W 1 exploration well in the Temsah Concession. Preliminary estimates indicate approximately 2 Tcf of gas initially in place (GIIP) at the site, which is located 70 km offshore in 95 m of water depth.
The discovery is situated less than 10 km from existing infrastructure, which Eni stated will enable substantial synergies for a fast-track development. The reservoir consists of gas-bearing sandstone of excellent quality with about 50 m of net pay, similar to the nearby Temsah field that has been in production since 2001.
The drilling of Denise W 1 follows a binding agreement signed in July 2025 with the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) for a 20-year renewal of the Temsah Concession. Eni operates the Denise Development Lease with a 50% contractor working interest, while bp holds the remaining 50%. The asset is operated through Petrobel, a joint venture between Eni and EGPC.
The discovery comes as Egypt introduces new incentives for foreign petroleum companies to encourage increased production. These measures include allowing companies to export a portion of new production to use the proceeds for siphoning off arrears, alongside raising the price paid for the companies’ share of new output.
Cairo aims to increase natural gas production to 6.6 billion (bn) cubic feet per day by 2030, representing an increase of approximately 60% over current rates, according to previous statements by the Petroleum Minister. The government also plans to drill 14 exploration wells in the Mediterranean during 2026 to evaluate reserves estimated at 12 Tcf of gas.
Eni stated that the discovery reinforces its commitment to supporting Egypt’s national goals of boosting reserves and increasing production to strengthen energy security. The company added that the find confirms its strategy of rejuvenating producing assets through near-field and infrastructure-led exploration.
Eni has operated in Egypt since 1954 and maintains a portfolio across exploration, development, and production. The company reported equity oil and gas production of 242,000 barrels of oil equivalent per day (kboed) in 2025.
