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.
