Egypt offshore discovery reveals 56 billion cubic meters of gas

A major offshore gas and condensate discovery has been made in the Mediterranean Sea, potentially providing a significant new supply for Egypt. The Denise W-1 exploration well, located in the Denise area of the Temsah concession off the coast of Port Said, was completed after five months of drilling.

Preliminary assessments indicate the discovery contains approximately 56.6 billion cubic meters of natural gas and 130 million barrels of condensate. The reservoir features a high-quality gas-bearing sand layer approximately 50 meters thick, similar to the nearby Temsah field.

The project is a joint venture between Eni and BP, who each hold a 50% interest. Field operations are conducted through Petrobel, a partnership between Eni and the Egyptian General Petroleum Corporation (EGPC). A key logistical advantage is the site's proximity to existing infrastructure; while 70 km from the coast, the well is less than 10 km from current oil and gas production facilities, allowing for potential use of existing pipelines.