Italian energy company Eni has finalised key contracts for the engineering, procurement, construction and drilling of the Cronos gas project in Block 6, located offshore in Cyprus’s exclusive economic zone (EEZ) in the Mediterranean Sea.
The signing follows a final investment decision (FID) taken in July 2026 to proceed with developing the Cronos field.
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This marks the beginning of the project’s execution phase and represents a significant step towards commercialising the island nation’s offshore gas resources.
Eni, through its subsidiary Eni Cyprus, operates Block 6 with a 50% stake, while TotalEnergies is the project’s partner.
The contracts cover several aspects of the project, including a floating control unit, subsea production systems, and offshore transportation and installations.
Other areas addressed are sealines, flexible pipes, umbilicals, onshore engineering, procurement and construction (EPC) and drilling rig services.
A formal ceremony in Nicosia marked the launch of the execution phase.
Attendees included Cyprus President Nikos Christodoulides, the country’s Minister of Energy, Commerce and Industry Michael Damianos, and Eni global natural resources chief operating officer Guido Brusco.
According to Eni, Cronos holds an estimated three trillion cubic feet (tcf) of gas initially in place.
The project aims to reach a maximum production level of up to 500 million standard cubic feet per day, with first gas output expected in the first half of 2028.
It is set to use a fast-track approach that relies on integrating regional infrastructure already in place.
Gas extracted from the Cronos field will be sent to Egypt, where it will be processed at established sites such as the Zohr facility, and then liquefied at the Damietta liquefied natural gas (LNG) plant ahead of being exported to Europe.
Eni has operated in Cyprus since 2013. In addition to Block 6, the company runs Block 8 and owns stakes in Blocks 7 and 11, with TotalEnergies acting as operator for the latter two areas.
