Eni discovers two trillion cubic feet of gas in Egyptian waters

Egypt's local gas production has fallen in recent years and the country is currently suffering from spillover effects of the Iran war, particularly in the energy sector, as it ‌depends ⁠on imported fuel.

Eni's discovery is located around 70 kilometres offshore in 95 metres of water depth and less than 10 kilometres from existing infrastructure, creating substantial synergies for a fast-track development.

The Denise W-1 well was drilled following a binding agreement signed in July 2025 with Egyptian authorities to renew the Temsah Concession for 20 years.

Eni operates the Denise Development Lease with a 50 per cent working interest alongside BP, with operations conducted through Petrobel, Eni's joint venture with Egypt's state-owned oil company EGPC.

(Reporting by Francesca Landini; Editing by Susan Fenton)