Italian energy giant ENI announces gas discovery off Egypt coast

Eni has announced a new gas and condensate discovery offshore Egypt, saying the find could be developed quickly because it sits close to existing infrastructure.

In a press release published on April 7, the Italian energy group said the Denise W-1 exploration well in the Temsah Concession had uncovered the discovery. Preliminary estimates point to about 2 trillion cubic feet of gas initially in place and about 130 million barrels of associated condensates.

Eni said the well is around 70 km offshore in roughly 95 metres of water and less than 10 km from existing facilities. The company said that location gives the project fast-track development potential.

The discovery was drilled under a July 2025 agreement that renewed the Temsah Concession for 20 years. Eni said the project is operated through Petrobel, with Eni holding a 50% working interest alongside bp’s 50% stake.

Egyptian and industry outlets later repeated the same core details, corroborating the announcement. No revised reserve estimate or commercialization timetable was included in the material reviewed.