Eni has signed main engineering, procurement, construction (EPC) and drilling contracts for the deepwater Cronos gas field development offshore southern Cyprus.

The awards, which signify the start of the project's execution phase, covered contracts for the floating control unit, transportation and installations, offshore sealines, the subsea production system, flexible pipelines, umbilicals, drilling services, and the onshore line EPC.

Eni and partner TotalEnergies took FID on the development on July 28.

Cronos, which has estimated in-place gas of more than 3 Tcf, is due to start production in the first half of 2027, reaching a peak of up to 500 MMcf/d.

Production will be transported across the Mediterranean Sea to Egypt, where it will undergo processing through existing facilities, including the Eni-operated Zohr infrastructure. It will then undergo liquefaction at the Damietta LNG plant for export to international markets, mainly in Europe.

Aside from supporting Cyprus’ emergence as a gas producer and exporter, Cronos will play a key role in the long-planned integration of energy networks across the Eastern Mediterranean, Eni reported.

The company also operates Block 8 offshore Cyprus and is a partner to operator TotalEnergies in Blocks 7 and 11.

APEX acquires Eni's Nigerian subsidiary AENR

In addition, Eni has announced the sale of its shallow-water/onshore E&P subsidiary in Nigeria to Apex Global Energy.

Agip Energy and Natural Resources (Nigeria) (AENR) has a 5% share in the Renaissance joint venture, operated by Renaissance, in partnership with TotalEnergies and NNPC.

Apex is a subsidiary of Nigerian onshore specialist Sterling Oil Exploration and Energy Production Co.

The transaction has approvals from all relevant authorities.

Eni will continue deepwater exploration and development in Nigeria, and will remain a participant in Nigeria LNG.