BP announces new gas discovery off Egypt’s East Mediterranean

UK energy major BP (LSE:BP) has announced a new gas discovery offshore Egypt in the East Mediterranean, following the successful drilling of the “Dennis West-1” exploration well within the Temsah concession area, according to a statement on April 8, cited by Al Ahram.

The discovery is located approximately 70 kilometres from the coast and at a depth of approximately 95 metres. It lies less than 10 kilometres from existing infrastructure, significantly enhancing the potential for fast-track development and connection to current production networks.

According to the company, the reservoir characteristics are similar to those of the nearby Temsah and Akhen fields, which have been in production since 2001. The gas-bearing sandstone is of high quality, with a total reservoir thickness of around 90 metres.

The Dennis West-1 well follows BP's July 2025 signing of a binding framework agreement with the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company (EGAS) to renew the Temsah concession for 20 years.

BP holds a 50% stake in the concession, in partnership with Italy’s Eni (BIT:ENI), which owns the remaining 50%. Development operations are carried out by Petrobel, the joint venture between Eni and the Egyptian General Petroleum Corporation.

As part of its broader East Mediterranean expansion, BP recently secured two additional offshore exploration blocks earlier this year. The company also deployed the DS-12 drilling vessel last month to drill multiple wells to boost domestic gas production and meet Egypt’s rising energy demand.

BP, which has operated in Egypt for over 63 years, continues to play a key role in developing the country’s energy resources through strategic partnerships and sustained investment.