Eni and BP score big in Egypt

A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks

BP and Italy’s Eni have made the biggest gas discovery in Egypt in three years. While the find is not transformative in scale, it is welcome news at a time when the country grapples with a widening supply shortfall and growing import risks caused by the US-Iran conflict. The Denise West 1 well at the offshore Temsah concession encountered 2tcf of gas initially in place and 130m bl of condensate, Eni said on 7 April. This compares with Chevron’s Nargis find in 2023, estimated at 3.5tcf. Denise West lies about 70km offshore in waters 95 metres deep, less than 10km from existing infrastructure, potentially allowing for fast-track development. The well encouraged high-quality gas-bearing sandsto