Cronos Gas Development Offshore Cyprus Enters Execution Phase

Eni has signed the main engineering, procurement, construction and drilling contracts for the Cronos gas development in Block 6 offshore Cyprus, launching the project's execution phase ahead of planned production start-up in the first half of 2028.

The contracts cover a Floating Control Unit, transportation and installation works, offshore sealines, subsea production systems, flexible lines, umbilicals, onshore pipeline engineering, procurement and construction (EPC), and drilling rig services, Eni announced on October 26.

The execution phase was formally launched in Nicosia on Monday, following the final investment decision (FID) reached on July 28, 2026.

The Cronos discovery is estimated to contain more than 3 trillion cubic feet (Tcf) of gas initially in place, with the development expected to reach a production plateau of up to 500 million standard cubic feet per day (mmscf/d).

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