Italian energy company Eni has completed the key contracts covering the engineering, procurement, construction and drilling activities for the Cronos gas project in Block 6, situated offshore within Cyprus’s exclusive economic zone (EEZ) in the Mediterranean Sea (Eni press release, 26/10/2026).
The contracts were signed following the final investment decision (FID) made in July 2026 to move forward with the development of the Cronos field. The project is jointly owned by Eni (50%, operator) and TotalEnergies (50%). Discovered in 2022, the field holds an estimated 3 Tcf (85 bcm) of gas (KEI, 29/07/2026). Production is scheduled to start in the first half 2028, with output expected to reach a plateau of approximately 500 Mcf/d (around 5.15 bcm/year) of LNG. Development plans include the installation of four subsea wells. According to TotalEnergies, the extracted gas will be transported through a subsea pipeline from Cypriot waters to Egypt, where it will be liquefied at the Damietta LNG terminal and subsequently shipped to Europe. Eni and TotalEnergies will each be responsible for marketing 50% of the production.
In addition to their cooperation in Block 6, Eni and TotalEnergies hold interests in Blocks 7, 8 and 11 offshore Cyprus. TotalEnergies operates Blocks 7 and 11, while Eni operates Block 8, where TotalEnergies owns a 40% stake.