Eni launches Cronos project execution phase

Eni has signed the main EPC and drilling contracts for the development of the Cronos project, marking the start of the project's execution phase and a key milestone towards the monetisation of Cyprus' first gas development.

The execution phase was formally launched in Nicosia during a ceremony attended by the President of the Republic of Cyprus, Nikos Christodoulides, the Minister of Energy, Commerce and Industry of the Republic of Cyprus, Michael Damianos, and Eni Chief Operating Officer Global Natural Resources, Guido Brusco.

The awarded contracts include floating control unit, transportation and installations, offshore sealines, subsea production system, flexible lines, umbilicals, onshore line EPC, and drilling rig services. This follows the final investment decision reached on 28 July 2026 for the development of the Cronos gas discovery in Block 6 offshore Cyprus. Based on gas resources estimated at more than 3 trillion ft³ of gas initially in place, the project is expected to reach a production plateau of up to 500 million ft³/d, with start-up expected in 1H28.

The development will leverage a fast-track approach based on regional integration and the use of existing infrastructure. Gas produced from Cronos will be transported to Egypt, where it will be processed through existing facilities, including the Zohr infrastructure, before being liquefied at the Damietta LNG plant for export to international markets, primarily Europe.