Egypt announces 2 trillion cubic feet of gas discovery by Eni in Eastern Mediterranean

Egypt announced on Tuesday a significant natural gas discovery in the Mediterranean by Italy’s Eni SpA, with estimated reserves of about 2 trillion cubic feet of gas and 130 million barrels of condensates.

The discovery, made at the Denise W‑1 exploration well in the Temsah ‌Concession near Port Said in the Eastern Mediterranean, highlights the potential of mature Mediterranean fields to deliver new output using advanced exploration techniques, the petroleum ministry said.

The well, drilled by Belayim Petroleum Co. (Petrobel), a joint venture led by Eni, encountered gas-bearing formations in water depths of around 95 metres, about 70 kilometres offshore and close to existing infrastructure. Its proximity—roughly 10 kilometres from current production facilities—could allow for faster and more cost-efficient development, the ministry added.

The find comes as Egypt seeks to reverse declining output and reduce reliance on imports, supported by policies aimed at attracting foreign investment and clearing arrears owed to international oil companies.

Preparations are underway to test the well and assess production capacity, with plans to integrate it into the national output mix following development work, including the installation of an offshore platform and the drilling of additional appraisal wells.

Petroleum Minister Karim Badawy had inspected the start of drilling operations in November, when the well was spudded using the Egyptian rig El Qaher 2.

The ministry said the discovery could open the door to further exploration in nearby mature areas such as Temsah and Ras El Bar, potentially adding to Egypt’s proven reserves and reinforcing its position as a regional gas producer.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser