Prime Minister Mostafa Madbouly inspected Egypt’s offshore drilling rig Al‑Qaher‑2, which carried out operations for the Denise West‑1 exploratory well in the Eni‑bp Temsah concession in the Mediterranean. The operation resulted in a promising natural gas discovery, with reserves estimated at around 2 trillion cubic feet of gas, in addition to approximately 130 million barrels of condensate.
Karim Badawi, Minister of Petroleum and Mineral Resources, who accompanied Madbouly in the visit, affirmed that the new Denis discovery represents one of the important outcomes of the Ministry’s program to settle dues owed to foreign partners and to implement new incentives aimed at accelerating investment in the petroleum and gas sector.
The Minister explained that the discovery also comes as a result of the incentive agreement reached in 2025 with the partners in the Temsah concession, which contributed to accelerating drilling operations. He stressed that this discovery is among the most significant in recent years and supports efforts to increase domestic production and reduce the import bill.
Badawi affirmed that the state is working to provide and localize modern technologies that contribute to increasing petroleum and gas productivity, following successful global and regional experiences. This is being pursued in cooperation with leading service companies, drilling and technology solution providers, and production partners.
This comes as President Abdel Fattah El-Sisi, President of the Republic, had directed the establishment of a mechanism to advance research, exploration, and development activities, in order to meet local needs and reduce imports. The government, represented by the Ministry of Petroleum and Mineral Resources (MoPMR), is diligently implementing this directive in collaboration with the relevant entities and companies, according to a MoPMR statement.
Madbouly stressed that the state is keen to settle all dues owed to foreign companies operating in Egypt, while intensifying efforts to enhance investment opportunities in the energy sector. He noted that an integrated infrastructure is being prepared to receive imports of liquefied natural gas, as well as to bring in and operate regasification vessels. These measures are being pursued in parallel with continued support for increasing domestic production and strengthening exploration and production activities.
At the same time, Badawi pointed out that fruitful cooperation with global investment partners has been reflected in the announcement of ambitious investment plans by several companies. These include $8 billion from Eni, $5 billion from bp, and $2 billion from the Emirati company Arcius. In addition, Shell has strengthened its investments in gas exploration and production in the Mediterranean, while Apache has expanded its activities in the Western Desert, bringing total investments to more than $4 billion.
During his tour, Madbouly inspected the drilling rig and the main control room, and listened to an explanation of its technical capabilities and its role within Egypt’s offshore drilling fleet. The rig is operated by the Modern Drilling Company (MDC) using the latest technologies. The Prime Minister also followed a presentation outlining the different stages of the drilling and exploration process.
Madbouly listened to an explanation from Tharwat El Gendy, Chairman of Belayim Petroleum Company (Petrobel), regarding the progress of operations in the Temsah concession area. Drilling was carried out at a water depth of about 98 meters, using directional drilling technology to reach depths exceeding 4,000 meters, which enabled access to the gas-bearing formations. Petrobel is the joint venture (JV) between Eni and the Egyptian General Petroleum Corporation(EGPC)
