Eni, TotalEnergies greenlight four-well Cronos gas project

Eni and TotalEnergies took the final investment decision to develop the Cronos gas field in Block 6 offshore Cyprus, marking the country’s first gas development project. Eni operates the block with a 50% stake, alongside TotalEnergies holding the remaining 50%.

Cronos sits in deep water about 185 km southwest of Cyprus and holds more than 3 Tcf of gas initially in place. The field will be developed through four subsea wells, with production transported by subsea pipeline to Egypt for processing at existing Zohr facilities before liquefaction at the Damietta LNG plant for export to Europe.

Production is expected to start in 2028, reaching a plateau of about 500 MMcf/d, equivalent to roughly 2.8 million tonnes per year of LNG. TotalEnergies will market half of the LNG output. The project follows the Cronos discovery in 2022 and its appraisal in 2024, and could open the way for further appraisal of additional resources in Block 6.