SEATTLE (Oil Monster):Italy’s energy major Eni has announced a significant gas and condensate discovery offshore Egypt following the successful drilling of the Denise W-1 exploration well in the Temsah Concession in the Eastern Mediterranean.
Preliminary estimates suggest around 2 trillion cubic feet (Tcf) of gas initially in place, along with approximately 130 thousand barrels of associated condensates. The discovery is located about 70 km offshore in 95 meters of water depth and lies less than 10 km from existing infrastructure, enabling potential fast-track development.
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The Denise W-1 well encountered high-quality gas-bearing sandstone reservoirs with roughly 50 meters of net pay, similar to the nearby Temsah field, which has been producing since 2001. The proximity to existing facilities is expected to enhance operational efficiency and reduce development costs.
The discovery supports Egypt’s efforts to boost gas production and strengthen energy security. It also highlights Eni’s strategy of leveraging near-field exploration to maximize output from existing assets.
Eni operates the concession with a 50% stake alongside bp, through the Petrobel joint venture with EGPC.
