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Eni CEO Claudio Descalzi. Image courtesy of Eni/Flickr.

Italy’s Eni said Monday that it discovered a supergiant gas field at the deepwater Zohr Prospect in offshore Egypt.

The discovery well Zohr 1X NFW is located in the economic waters of Egypt’s Offshore Mediterranean, in 4,757 feet of water depth, in the Shorouk Block.

According to the well and seismic information available, the discovery could potentially hold 30 trillion cubic feet of lean gas in place, or 5.5 billion barrels of oil equivalent in place, covering an area of about 38 square miles.

Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea, and it could become one of the world’s largest natural gas finds, Eni said.

“This exploration success will give a major contribution in satisfying Egypt’s natural gas demand for decades,” the company added.

Eni will immediately appraise the field with the aim of accelerating a fast track development of the discovery that will utilize existing offshore and onshore infrastructures.

Zohr 1X NFW was drilled to a total depth of 13,553 feet and hit 2,067 feet of hydrocarbon column, with 1,312 feet plus of net pay, in a carbonate sequence of Miocene age with “excellent” reservoir characteristics,.

Zohr’s structure also has a deeper Cretaceous upside that will be targeted in the future with a dedicated well.

Eni won the block in January 2014 from the Egyptian Ministry of Petroleum and the Egyptian Natural Gas Holding Company following a competitive international bid round.

Eni’s CEO Claudio Descalzi recently traveled to Cairo to update Egypt’s President Abdel Fattah Al-Sisi about the find, and discuss the discovery with Prime Minister Ibrahim Mahlab and the Minister of Petroleum and Mineral Resources Sherif Ismail, Eni added.

“This outstanding result confirms our expertise and our technological innovation capacity with immediate operational application, and above all shows the strength of the cooperation spirit amongst all the company’s units which are at the foundation of our great successes,” Descalzi said.