The Ministry of Petroleum and Mineral Resources announced a significant natural gas discovery in the Mediterranean Sea by Italian energy company Eni, highlighting the success of incentive policies and the settlement of partner dues aimed at boosting production and reducing Egypt’s energy import bill, according to a press release issued by the ministry on Tuesday.
Belayim Petroleum Company (Petrobel) successfully drilled the “West Denis 1” exploratory well in the Denis Marine area, located off the coast of Port Said. Preliminary estimates indicate reserves of 2 trillion cubic feet of natural gas and 130 million barrels of petroleum condensates, at a water depth of 95 metres, just 70 kilometres offshore and only 10 kilometres from existing production facilities.
Minister of Petroleum and Mineral Resources Karim Badawi had overseen the start of drilling operations five months ago using the Egyptian rig Cairo 2. Preparations are now underway to test the well and determine production rates before placing it on the national production map. Development plans include constructing an offshore platform and drilling appraisal wells.
Officials noted that this discovery is expected to unlock new potential in mature Mediterranean areas such as Temsah and Ras El Bar, increasing confirmed reserves and further strengthening Egypt’s natural gas production capacity.
