Overview
- Eni reported a new offshore find at the Denise W-1 well in the Temsah concession with early estimates of about 56 billion cubic meters of gas and 130 million barrels of condensates.
- The site sits about 70 kilometers offshore in 95 meters of water and lies under 10 kilometers from existing facilities, which could speed a tie-back under Eni’s near-field approach.
- Eni and BP each hold 50% of the Temsah concession, and Petrobel, their joint venture with Egypt’s EGPC, operates it under a 20-year renewal signed in July 2025.
- The company said production is intended for Egypt’s homes and factories rather than export to lift reserves, raise output, and improve supply reliability.
- Egypt has been covering a domestic shortfall with Israeli gas after regional disruptions, so a quick tie-in here could trim import costs and ease strain on the power system.