BBC articlehttps://www.bbc.com/news/world-middle-east-34102656
"This historic discovery will be able to transform the energy scenario of Egypt," said Claudio Descalzi, chief executive of Eni.
Eni, which has full concession rights to the area, is the biggest foreign energy firm in Africa.
In June, it signed an energy exploration deal with Egypt's oil ministry worth $2bn (£1.5bn) allowing the company to explore in Sinai, the Gulf of Suez, the Mediterranean and areas in the Nile Delta.