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Eni chief executive Claudio Descalzi met Egypt's President Abdel Fattah El-Sisi on 25 August 2026 to review upstream investment and new initiatives. The company described its Mediterranean exploration campaign, under way since October 2025, and the Denise West gas discovery made in April 2026 in the Temsah concession. The August event is a development-plan review, not a claim that the discovery itself occurred in August.
Eni stated approximately two trillion cubic feet of gas and 130 million barrels of condensate in place at Denise West. In-place quantities should remain distinct from recoverable reserves. The company was working with BP and EGPC toward a final investment decision in the following months, targeting first gas in less than two years. Neither investment approval nor first production was reported as completed at the meeting.
The review also covered exploration and drilling across Eni-operated areas, with an emphasis on short-cycle opportunities using existing infrastructure and extending legacy assets in Sinai and the offshore Nile Delta. Eni said these activities had increased offshore Sinai production by 50% since 2025. That operator statement refers to the specified portfolio and period, not all Egyptian production or a measured gain from Denise West before development.
For well-industry analysis, the update connects an earlier discovery with a planned investment step and infrastructure-led development approach. It does not disclose precise well coordinates, an approved new-well count or final development cost. Subsequent decisions and drilling reports will be needed to assess execution. Keeping discovery timing, in-place estimates and future production targets separate prevents the investment dialogue from being presented as a completed development or an immediate new supply of gas.