Eni Announces Major Gas And Condensate Discovery

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 7. Italian Eni has announced a significant gas and condensate discovery in Egypt following the successful drilling of the Denise W-1 exploration well in the Temsah Concession, located offshore in the Eastern Mediterranean, Trend reports via the company.

Preliminary estimates indicate approximately 2 trillion cubic feet (Tcf) of gas initially in place (GIIP) and 130 million barrels of associated condensates.

The Denise W discovery is situated 70 km offshore at a water depth of 95 meters and less than 10 km from existing infrastructure, offering strong potential for fast-track development. The reservoir, similar to the nearby Temsah field in production since 2001, is a high-quality gas-bearing sandstone with about 50 meters of net pay.

The drilling of Denise W-1 follows the binding agreement signed in July 2025 with the Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS) for a 20-year renewal of the Temsah Concession. Eni operates the Denise Development Lease with a 50% working interest, alongside bp, which holds the remaining 50%. The concession is managed through Petrobel, the joint venture between Eni and EGPC.

Eni has been active in Egypt since 1954 and currently holds a diversified portfolio across exploration, development, and production. In 2025, the company reported oil and gas production of 242,000 barrels of oil equivalent per day (kboed) on an equity basis.

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