Ahmed Kamel – Egypt Daily News
Italian energy giant Eni has announced a significant new natural gas discovery offshore Egypt, with preliminary estimates indicating reserves of approximately two trillion cubic feet of gas.
The discovery was made at the “Denis West 1” exploratory well in the offshore Deniz area, located off the coast of Port Said. The well was drilled by Petrobel, in which Eni serves as the main operator. Early geological assessments confirmed the presence of gas-bearing layers, along with an estimated 130 million barrels of associated condensates.
The field lies in relatively shallow waters at a depth of around 95 meters, approximately 70 kilometers from shore and just 10 kilometers from existing production facilities. This proximity is expected to facilitate rapid development and reduce infrastructure costs.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, had previously overseen the launch of drilling operations at the site five months ago. The well was drilled using the Egyptian rig “Cairo 2,” operated by the Modern Drilling Company.
Preparations are now underway to test the well and determine production rates. Officials expect the discovery to be added to Egypt’s production map following the completion of development work, which will include the installation of an offshore production platform and the drilling of appraisal and development wells.
Industry analysts suggest the find could open new opportunities for similar discoveries in mature areas of the Mediterranean, including fields such as Timsah and Ras El Bar. Such developments are expected to strengthen Egypt’s proven reserves and support efforts to expand natural gas output.
Separately, the Gulf of Suez Petroleum Company reported a successful exploratory well in the South Wadi field in the Gulf of Suez. Developed in partnership with the Egyptian General Petroleum Corporation and UAE-based Dragon Oil, the well has yielded production rates of approximately 2,500 barrels of oil per day and 3 million cubic feet of gas.
The new well has already been connected to existing production infrastructure, contributing to an increase in total output to around 67,000 barrels of oil per day, marking the highest level for the company in recent years.
These developments highlight renewed momentum in Egypt’s energy sector, as the country seeks to leverage offshore resources and reinforce its position as a regional energy hub.
