{"id":113941,"date":"2026-04-10T00:00:00","date_gmt":"2026-04-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/10\/big-oil-and-gas-discoveries-in-the-mediterranean-and-libya-are-very-welcome-news-for-egypt\/"},"modified":"2026-04-10T00:00:00","modified_gmt":"2026-04-10T00:00:00","slug":"big-oil-and-gas-discoveries-in-the-mediterranean-and-libya-are-very-welcome-news-for-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/10\/big-oil-and-gas-discoveries-in-the-mediterranean-and-libya-are-very-welcome-news-for-egypt\/","title":{"rendered":"Big oil and gas discoveries in the Mediterranean and Libya are very welcome news for Egypt"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s energy security got a nice shot in the arm this week <\/strong>thanks to discoveries at home and in Libya. The finds will take time to bring online, but are a welcome development for a country already staring into the teeth of an energy crisis thanks to disruption of supplies from Qatar (natural gas), Kuwait (crude) and other traditional Gulf suppliers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Eni<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.eni.com\/en-IT\/media\/press-release\/2026\/04\/eni-unveils-2-tcf-gas-discovery-offshore-egypt-unlocking-fast-track-development-potential.html\" style=\"\">discovered<\/a><\/strong><strong> a reservoir in the Eastern Mediterranean believed to hold some 2 tcf of <\/strong><strong>gas<\/strong> and c. 130 mn barrels of other light hydrocarbons. Critically, the fiend is in shallow water just 10km from existing infrastructure, meaning Eni and its partner (a local unit of BP) could bring the field into production quicker. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In context: <\/strong>Egypt has been on a drive for the past year to restore its credibility with Big Oil \u2014 and that campaign appears to be paying off, if the on-stage <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/09\/egypt-pays-credibility-tax-to-keep-its-energy-hub-dreams-viable\/\" style=\"\">love-in at an American Chamber of Commerce in Egypt event)<\/a> with the oil ministry was anything to go by. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- The Libyan National Oil Corporation announced three shallow discoveries<\/strong> \u2014 two gas fields being tapped by Algeria\u2019s <a target=\"_blank\" href=\"https:\/\/noc.ly\/%D8%A7%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D9%88%D8%B3%D9%88%D9%86%D8%A7%D8%B7%D8%B1%D8%A7%D9%83-%D8%AA%D8%B9%D9%84%D9%86%D8%A7%D9%86-%D8%B9%D9%86-%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D8%A7%D9%83%D8%AA\/\" style=\"\">Sonatrach<\/a> and <a target=\"_blank\" href=\"https:\/\/noc.ly\/%D8%A7%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D9%88%D8%A5%D9%8A%D9%86%D9%8A-%D8%B4%D9%85%D8%A7%D9%84-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7-%D8%AA%D8%B9%D9%84%D9%86%D8%A7%D9%86-%D9%86%D8%AC%D8%A7\/\" style=\"\">Eni<\/a>, and an oil field by Spain\u2019s <a target=\"_blank\" href=\"https:\/\/noc.ly\/%D8%A7%D9%83%D8%AA%D8%B4%D8%A7%D9%81-%D9%86%D9%81%D8%B7%D9%8A-%D8%AC%D8%AF%D9%8A%D8%AF-%D9%84%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D9%88%D8%B1%D9%8A%D8%A8%D8%B3%D9%88%D9%84-%D9%81%D8%B1%D8%B9-%D9%84\/\" style=\"\">Repsol<\/a> \u2014 in a sign that relative stability is drawing IOCs back to low-cost Libyan exploration after years of conflict-driven suspension.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why does Libya matter so much to Egypt? <\/strong>As we exclusively reported earlier this week, Cairo just signed up to buy 3% of Libya\u2019s <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/07\/egypt-secures-libyan-crude-to-compensate-for-hormuz-strait-closure-disruptions\/\" style=\"\">total<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/07\/egypt-secures-libyan-crude-to-compensate-for-hormuz-strait-closure-disruptions\/\" style=\"\">crude output<\/a> to compensate for supplies Egypt isn\u2019t getting from the Gulf. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eni, Repsol, and Sonatrach all reported big finds that should be fairly quick to come to market<\/p>\n","protected":false},"author":1,"featured_media":113942,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2494],"tags":[2613,2539,2783,2538,2692],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-113941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-egypt","tag-energy","tag-eni","tag-enterpriseam","tag-libya","wpautop","entry"],"acf":{"mongo_id":"745648c4-0605-43d1-9d0d-310da76d70f8","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/1615.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Drill, baby, drill","related_issue":[113929],"teaser":"Eni, Repsol, and Sonatrach all reported big finds that should be fairly quick to come to market"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Big oil and gas discoveries in the Mediterranean and Libya are very welcome news for Egypt - MENA+ Edition<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/04\/10\/big-oil-and-gas-discoveries-in-the-mediterranean-and-libya-are-very-welcome-news-for-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big oil and gas discoveries in the Mediterranean and Libya are very welcome news for Egypt\" \/>\n<meta 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