Eni announces 2 Tcf gas discovery off the Egyptian coast

Tuesday 07 April 2026 - 17:20

By: Dakir Madiha

Eni announces 2 Tcf gas discovery off the Egyptian coast

Eni announced Tuesday a gas and condensate discovery off the coast of Egypt estimated at approximately 2 trillion cubic feet of gas in place. The find is the latest in a series of Mediterranean discoveries by the Italian energy company, which also includes a separate 1 trillion cubic foot discovery off the Libyan coast last month.

The Egyptian discovery was made at the Denise W-1 exploration well, within the Temsah concession in the Eastern Mediterranean, located approximately 70 kilometers from shore in water depths of around 95 meters. Preliminary estimates also indicate approximately 130 million barrels of associated condensates.

Eni said the reservoir lies within 10 kilometers of existing infrastructure, opening the path to accelerated development through tie-ins to nearby facilities. The reservoir is a gas-bearing sandstone with approximately 50 meters of net column, comparable to the neighboring Temsah field, which has been in production since 2001.

Egypt's Ministry of Petroleum stated that the discovery aligns with a set of policies aimed at "supporting production increases, compensating for natural decline, and reducing the import bill." Eni operates the Denise development area with a 50 percent stake, alongside BP, through Petrobel, a joint venture between Eni and the Egyptian General Petroleum Corporation. The find follows the 20-year renewal of the Temsah concession, concluded in July 2025 with Egyptian authorities.

Three weeks before the Egyptian announcement, Eni revealed two gas discoveries off the Libyan coast on March 16, at the Bahr Essalam South 2 and Bahr Essalam South 3 structures, approximately 85 kilometers offshore. The wells, drilled into the Metlaoui formation, together hold more than 1,000 billion cubic feet of gas in place, according to Eni. Libya's National Oil Corporation said the discoveries are expected to contribute production of approximately 130 million cubic feet of gas per day, supplying both the Libyan domestic market and exports to Italy via the Greenstream pipeline. The structures sit just 16 kilometers from the existing Bahr Essalam field, the largest offshore gas asset in Libya, enabling relatively swift connection to infrastructure already in place.

Taken together, the discoveries amount to approximately 3 trillion cubic feet of gas across both countries, reinforcing Eni's position as a leading operator in North Africa, where the group has been active since the 1950s. The finds come as Europe continues to seek alternative gas supply sources and Egypt faces energy needs strained by regional instability. Eni is also advancing development of the Cronos gas field in Cyprus and has signaled its intention to route Eastern Mediterranean gas to European markets via Egyptian LNG infrastructure.