Eni signs up to $1.8bn in contracts for Cyprus’s Kronos gas field
The planned work includes underwater production equipment and a new pipeline in Egypt, connecting Cypriot gas to an export route chiefly serving Europe.
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The planned work includes underwater production equipment and a new pipeline in Egypt, connecting Cypriot gas to an export route chiefly serving Europe.
Energy group Eni signed contracts worth up to $1.8 billion on October 26 to build infrastructure for the Kronos natural gas field off Cyprus, moving the project into implementation. The agreements cover design, equipment procurement, construction and installation, Euronews Business said.
Kronos lies within Cyprus’s exclusive economic zone, the offshore area where the country has rights to develop natural resources. Eni and its partner TotalEnergies decided in July to accelerate development, setting a target of starting production in the first half of 2028.
The development plan combines equipment beneath the sea with pipelines and facilities linking production to Egypt. It lists these companies for the main work packages:
| Company | Planned work |
|---|---|
| Baker Hughes | Design, supply and construction of underwater gas-production systems |
| Dalmine | Work on natural gas export pipelines |
| TechnipFMC | Work on flexible production lines |
| McDermott | Transport, offshore installation, connection and preparation for operation of underwater pipelines and equipment |
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| Oceaneering | Construction of the main underwater control cables |
| CMHI | Construction and installation of a floating control unit |
| Petrojet | Construction of a new onshore gas pipeline between Zohr and Damietta in Egypt |
| Saipem | Offshore drilling services |
Under the plan, Kronos gas will travel to Egypt for processing through existing infrastructure, including facilities linked to the offshore Zohr field. It will then enter the Damietta liquefied natural gas plant, where gas is turned into liquid for export to international markets, chiefly in Europe.
Using existing Egyptian facilities is expected to reduce development costs and shorten the time needed to build the necessary infrastructure. The project therefore combines new production equipment and pipelines with a processing and export route that already exists.
Guido Brusco, Eni’s chief operating officer of global natural resources, estimated that Kronos holds more than 3 trillion cubic feet of natural gas. He forecast production of up to 500 million cubic feet a day once operations have stabilised.
That forecast is not current supply. Eni and TotalEnergies target the first half of 2028 for the start of production, with exports planned to follow once production begins.
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