Eni has discovered gas from the Denise W 1 exploration well.

Following preliminary estimates from drilling activities offshore Eastern Mediterranean, Eni is anticipating the presence of approximately 2 trillion cubic feet of gas initially in place and 130 Mbbl of associated condensates

Discovered from the Denise W 1 exploration well, it especially aligns with the major's near-field and infrastructure-led exploration strategy as it comes with the potential for a massive fast-track development. The well is positioned less than 10 kms away from existing infrastructure, belonging to the Temsah Concession lying 70 km offshore in 95 m of water depth.

As part of substantial investments in brownfield assets, Eni had secured a 20-year renewal of the Temsah Concession in 2025 from the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company. The discovery thus comes as a significant return of investment for the oil major, similar to the now-producing Temsah field, which also featured a gas-bearing sandstone reservoir of excellent quality with about 50 m of net pay like the Denise well.

Eni's joint venture with EGPC, Petrobel, which operates the Denise Development Lease of the Temsah Concession, secures boosted gas output for the country, contributing to its national goals and energy security.

Eni operates the Denise Development Lease of the Temsah Concession with a 50% contractor working interest, alongside bp which holds the remaining 50%. 

Eni has been active in Egypt since 1954 and today holds a diversified portfolio spanning exploration, development, and production, with oil and gas production of 242 kboed equity in 2025. 

The project aims to boost natural gas production.

In a major step towards the development of its first project in Egypt, Arcius, in collaboration with the Egyptian Natural Gas Holding Company, has reached final investment decision (FID) on the Harmattan gas field in the El Burg Offshore concession area

Approximately half a billion dollars investment by the bp and XRG venture, the project aims to boost natural gas production.

This comes following Arcius’ acquisition of the El Burg Offshore concession area in February 2026. The project's execution phase will be led by ENPPI delivering engineering, procurement, construction and installation (EPCI) contract for Pharaonic Petroleum Company on behalf of El Burg Offshore Petroleum Company. Petroleum Marine Services and Petrojet will be providing services in the capacity of subcontractors.

Speaking on the FID and acknowledging the project's purpose to primarily meet domestic market needs, the chief executive officer of Arcius, Naser Al Yafei, said, "The Final Investment Decision to develop the Harmattan field marks an important milestone in advancing one of our first projects in Egypt toward production. It reflects our confidence in the potential of Egypt’s energy sector and our commitment to close cooperation with the Egyptian government, EGAS, and our execution partners to strengthen Egypt’s natural gas supply, support energy security, and reinforce Egypt’s position as a regional energy hub in the Eastern Mediterranean.” 

The FID was announced during the EGYPES 2026 with the participation of EGAS, Arcius as the Operator of El Burg Offshore Concession, PhPC, ENPPI, and in the presence of Karim Badawi, Minister of Petroleum and Mineral Resources.

Major discoveries drove gas output.

The Nigerian Upstream Petroleum Regulatory Commission has reported that the country's hydrocarbons reserves have reached 37 billion barrels of oil and 215 trillion standard cubic feet of gas as of 1 January 2026

While gas reserves recorded an increase which can be attributed to recent major discoveries, oil output took a slight hit from production and updated field evaluations, as noted by the commission’s chief executive, Oritsemeyiwa Eyesan. Field performance and subsurface technical studies resulted to the low production levels of 2025, according to Eyesan.

The announcement, which aligned with the Petroleum Industry Act (PIA) 2021, recorded crude oil reserves at an estimated 31.09 billion barrels as condensate reserves stood at 5.92 billion barrels.

In the gas front, associated gas reserves were put at 100.21 trillion cu/ft, and non-associated gas reserves stood at 114.98 trillion cu/ft.

Noting the maximum span of the reserves in terms of current production levels, the commission indicated the reserves' life index at 59 years for oil and 85 years for gas.

Advanced reservoir studies, on the other hand, led to an increase in gas reserves by 2.21%.

“Consequently… I hereby declare the Total Oil and Condensate reserves of 37.01 billion barrels and Total Gas reserves of 215.19 trillion cubic feet as the official National Petroleum Reserves Position as of 1st January 2026,” said Eyesan, as she acknowledged the comnmision's role in emphasising upstream performance to heighten reserves growth and maintain production levels. This, she believed, was made easier because of the PIA, which allows the commission to supervise the country's petroleum resources. 

As part of the federal government's efforts to boost oil and gas investment home and abroad, President Bola Tinubu has approved a targeted fiscal incentive package to accelerate the final investment decision (FID) for the Bonga Southwest Aparo (BSWA) deepwater project.

This led to Shell executives visiting the president in Abuja even as global oil prices shoot up due to supply shocks from geopolitical tensions. The major showed much enthusiasm about further investments in Nigeria as it acknowledged the country's improved political stability, policy consistency, and leadership as primary drivers.

“We are very keen to invest in Nigeria, but I would say this has not always been the case,” said Shell’s chief executive officer, Wael Sawan. 

Coral Norte will be an enhanced replica of the Coral Sul project.

The Eni-led Mozambique Rovuma Venture has signed a significant contract with Technip Energies, JGC and Samsung Heavy Industries to secure their ongoing project delivery services for the long term on the Coral Norte Floating Liquefied Natural Gas project offshore Mozambique

This follows the previously announced contract on initial activities, locking in Technip's services for the advanced stages of development as well.

The country’s second floating LNG facility, Coral Norte will be an enhanced replica of the Coral Sul project, which is currently up and running, producing over 5 million tonnes of LNG. The hull launch of Coral Norte already took place in South Korea in January. 

Loic Chapuis, president - project delivery and services of Technip Energies, said, "Building on the success of Coral Sul, and together with JGC and Samsung Heavy Industries, this award further strengthens our long-standing partnership with Eni and their Area 4 partners. It also underscores our leadership in delivering innovative and complex LNG solutions to support long-term energy supply and security in Mozambique and globally.”

Replicating the same feed gas composition and field location of the Coral Sul will ensure a cost-effective and de-risked project delivery for Coral Norte, as it will be the result of proven design. This predictability at scale will ensure boosted LNG output from Coral Norte with optimal investments.

“Coral Norte is a clear recognition of Technip Energies’ engineering and project delivery expertise and our ability to replicate proven solutions with discipline and certainty," Chapuis said.