Egypt’s Ministry of Petroleum and Mineral Resources announced on Thursday a major new energy discovery in the Western Desert, describing it as the largest find in the region in more than 15 years.

The discovery was made by Agiba Petroleum, a joint venture between the Egyptian General Petroleum Corporation and Eni, through a newly drilled exploratory well.

Initial estimates indicate the field contains around 330 billion cubic feet of natural gas, alongside 10 million barrels of condensates and crude oil, totaling nearly 70 million barrels of oil equivalent.

Officials said the discovery is especially important because it lies close to existing infrastructure, allowing production to begin quickly after development.