Eni and TotalEnergies have taken the final investment decision (FID) to develop the deepwater Cronos gas field in Block 6 offshore Cyprus, targeting first production in 2028.
Discovered in 2022 and appraised in 2024, Cronos is Cyprus’ first gas development and contains more than 3 trillion cubic feet of gas initially in place. The field lies approximately 185 km south-west of Cyprus and will be developed through four subsea wells.
Production is expected to reach a plateau of around 500 million cubic feet per day, equivalent to approximately 2.8 million tonnes of LNG annually.
Gas will be transported by subsea pipeline to Egypt, processed through existing facilities serving the Zohr field and subsequently liquefied at the Damietta LNG plant. The LNG will be marketed internationally, primarily to European customers.
Eni said the development would help restart the Damietta plant and restore structural LNG exports from Egypt. Each partner expects to market half of the project’s LNG output, equivalent to around 1.4 million tonnes per year.
The use of existing processing and liquefaction facilities is intended to accelerate the development, reduce capital requirements and lower the carbon intensity associated with constructing new infrastructure. The project could also provide a route to market for additional Block 6 resources that the partners plan to appraise during future drilling campaigns.
Eni operates Block 6 with a 50% interest, while TotalEnergies holds the remaining 50%.
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