Eni Announces Significant Gas Discoveries Offshore Libya

Eni S.p.A. (NYSE:E) is included among the 13 Oil Stocks with Highest Dividends.

Eni Announces Significant Gas Discoveries Offshore Libya

Eni S.p.A. (NYSE:E) operates as an integrated energy company in Italy, the rest of Europe, the United States, Asia, Africa, and internationally.

Eni S.p.A. (NYSE:E) revealed on March 16 that it had two new discoveries totalling more than 1 Tcf of natural gas offshore Libya as a result of the company’s exploration campaign started in the ​past months. The gas-bearing intervals were found in the Metlaoui formation, with the acquired data indicating the presence of a high-quality reservoir. According to Libya’s state-run National Oil Corporation, the finds are expected to contribute around 130 million cubic ​feet of gas per day, to be supplied to the local market and exported to Italy.

Eni S.p.A. (NYSE:E) has maintained a presence in Libya since 1959 and remains the country’s leading international operator, with reported equity production of 162, 000 boe/day in 2025. The company currently has three development projects in execution in the country, two of which will start up this year.

Eni S.p.A. (NYSE:E) is also deeply involved in the global LNG industry and was recently placed in our list of the 14 Best LNG Stocks to Buy Now.

While we acknowledge the potential of E as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than E and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 40 Most Popular Stocks Among Hedge Funds Heading into 2026 and 12 Best Large Cap Energy Stocks to Buy Now.

Disclosure: None.