Fresh gas and condensate find pops up in Egyptian waters

April 7th, 2026

Italy’s energy giant Eni has confirmed a new gas and condensate discovery off the coast of Egypt, which is perceived to have a fast-track development potential.

Illustration; Source: Eni

While disclosing a significant gas and condensate discovery in Egypt, thanks to the drilling of the Denise W 1 exploration well in the Temsah Concession in the Eastern Mediterranean, Eni underlined that preliminary estimates indicate about 2 trillion cubic feet (tcf) of gas initially in place (GIIP) and 130,000 barrels (bbl) of associated condensates.

This discovery lies 70 kilometers offshore in 95 meters of water depth and less than 10 kilometers from existing infrastructure, enabling what the Italian player sees as substantial synergies for a fast-track development.

Similarly to the nearby Temsah field, which has been in production since 2001, the find features a gas-bearing sandstone reservoir of excellent quality with about 50 meters of net pay.

According to Eni, this discovery reinforces its commitment to support Egypt’s national goals of boosting reserves and increasing gas production, thereby strengthening the country’s energy security.

The latest find is also considered to back the company’s strategy for substantially rejuvenating producing assets through near-field and infrastructure-led exploration.

The drilling of Denise W-1 follows the binding agreement signed in July 2025 with Egyptian General Petroleum Corporation (EGPC) and EGAS for a 20-year renewal of the Temsah Concession.

Eni operates the Denise development lease of the Temsah Concession with a 50% contractor working interest, alongside BP which holds the remaining 50%.

The asset is operated through Petrobel, the joint venture operating company between the Italian giant and EGPC.

Multiple players are currently conducting offshore drilling activities in Egypt, including Shell, which recently drilled its first exploratory well during 2026 as part of its plan to expand gas exploration and production activities in its concession areas in the Egyptian part of the Mediterranean.