Eni S.p.A. has announced a significant gas and condensate discovery offshore Egypt, reinforcing the Eastern Mediterranean’s position as a growing energy hub.

The discovery was made at the Denise W-1 exploration well, located within the Temsah Concession about 70 kilometres offshore in the Eastern Mediterranean, in water depths of approximately 95 metres.

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According to the company, the well encountered a high-quality gas-bearing sandstone reservoir with around 50 metres of net pay, indicating strong production potential. Preliminary estimates suggest the field holds about 2 trillion cubic feet (tcf) of gas initially in place, along with approximately 130,000 barrels of associated condensates.

Eni noted that the proximity of the discovery to existing infrastructure—less than 10 kilometres away—creates the opportunity for a fast-track development, potentially accelerating time to production and reducing capital expenditure.

“The Denise W-1 well confirms the presence of a gas-bearing sandstone reservoir of excellent quality, consistent with nearby producing fields,” the company said in a statement.

The drilling of Denise W-1 follows a binding agreement signed in July 2025 between Eni and Egyptian General Petroleum Corporation as well as Egyptian Natural Gas Holding Company for a 20-year renewal of the Temsah Concession, underscoring long-term investment confidence in Egypt’s upstream sector.

Eni operates the Denise Development Lease within the concession with a 50 per cent stake, alongside bp plc, which holds the remaining 50 per cent. Operations are carried out through Petrobel, a joint venture between Eni and EGPC.

The latest discovery adds to a string of recent exploration successes in the region, as energy companies intensify efforts to unlock new gas resources amid rising global demand and supply diversification strategies.