Eni starts work on Cyprus's first gas field

Overview

Updated 1 hour ago

Cyprus has had gas under its seabed since 2011 and has never sold any of it. On 26 October 2026, Eni signed the engineering, construction and drilling contracts for the Cronos field and started the clock on the country's first production.

The gas will not leave from a Cypriot terminal. It will run by pipeline to Egypt, be processed in existing Zohr facilities and liquefied at the Damietta plant for sale to Europe. Cyprus gets an export industry without paying for one.

Why it matters

Europe's next non-Russian gas supply could come from a field idle since 2011, routed through Egypt instead of a new terminal.

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Key Indicators

$1.8B

Contract awards

Value of the eight engineering, construction and drilling packages, according to trade press reports cited by ENR.

3 Tcf

Gas initially in place at Cronos

Eni's estimate for the Block 6 discovery.

500 mmscf/d

Production plateau

Expected peak output of 500 million standard cubic feet per day.

2.8 Mtpa

LNG output

Annual liquefied gas volume, split equally between Eni and TotalEnergies.

50%

Eni's stake in Block 6

Eni operates the block; TotalEnergies holds the other half.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Claudio Descalzi

Chief executive of Eni

Leading the Cronos development

Nikos Christodoulides

President of the Republic of Cyprus

In office

Guido Brusco

Eni chief operating officer for global natural resources

Overseeing upstream delivery

Michael Damianos

Cyprus minister of energy, commerce and industry

In office

Organizations Involved

Eni

Energy company

Operator of Cronos with a 50% interest

Italian state-controlled energy group that operates Block 6 offshore Cyprus.

TotalEnergies

Energy company

50% partner in Block 6

French energy group and equal partner in the Cronos joint venture.

Republic of Cyprus

National government

Host government and first-time gas exporter

Government that signed the cross-border arrangement allowing Cronos gas to be processed in Egypt.

Baker Hughes

Oilfield services company

Supplying subsea production equipment

Houston-based supplier of the subsea trees, wellheads and control systems for Cronos.

McDermott International

Engineering and construction contractor

Installing subsea pipelines and equipment

Houston contractor handling engineering, procurement, installation and commissioning of the offshore pipelines.

Saipem

Offshore drilling contractor

Booked for the Cronos drilling campaign

Italian contractor providing the offshore rigs for development drilling.

Timeline

2011 October 2026

6 events Latest: 2 days ago

Tap a bar to jump to that date

October 2026
Contract values reported at up to $1.8 billion
Latest Disclosure

Trade press puts the packages at $1.3 billion to $1.8 billion. Eni has not disclosed totals.
2 days ago
Eni signs contracts and launches execution phase
Construction

Eight engineering, construction and drilling packages are awarded at a Nicosia ceremony.
6 days ago
July 2026
Eni and TotalEnergies approve Cronos development
Investment

Final investment decision targets first gas in 2028.
July 28th, 2026
February 2026
Cyprus and Egypt sign host government agreement
Agreement

The deal sets terms for Cypriot gas to be processed in Egypt.
February 2026
2022
Eni and TotalEnergies discover Cronos
Discovery

The Block 6 find holds more than 3 trillion cubic feet of gas in place.
2022
2011
Cyprus reports its first deepwater gas discovery
Discovery

Reserves are found offshore but no field is developed.
2011

Scenarios

First Cypriot gas flows in the first half of 2028

Likely Resolves by Q2 2028

Discussed by: Eni and TotalEnergies, which set the target in the July 2026 investment decision

Saipem's rigs start drilling by early 2027, Baker Hughes delivers subsea equipment in the first half of 2027, and the field ties into Zohr's existing facilities. If those steps hold, gas reaches Damietta and Cyprus becomes an exporter within its stated timetable.

Cronos startup slips past 2028

Possible Resolves by End of 2028

Discussed by: Energy analysts cited by MEES and Energy Intelligence, who note the project's dependence on Egyptian infrastructure

The schedule rests on equipment deliveries, a drilling campaign and spare capacity at Zohr and Damietta. A delay in any one of them pushes first gas into 2029 without cancelling the project.

A second Cypriot field reaches an investment decision by end-2027

Uncertain Resolves by End of 2027

Discussed by: Eni and the Cypriot energy ministry, which describe Cronos as the anchor of a regional hub

Eni has said Cronos is meant to support development of other Cypriot discoveries held by Eni, TotalEnergies, ExxonMobil, Chevron and QatarEnergy. A second sanctioned project would show the shared-infrastructure model works beyond one field.

Historical Context

3 moments from history that rhyme with this story — and how they unfolded.

2011

Aphrodite discovery (2011)

Noble Energy reported a deepwater gas discovery offshore Cyprus, the first sign the island held commercial reserves. Successive governments spent the next decade debating pipelines, terminals and revenue funds.

Then

No field was developed and Cyprus remained an importer of imported fuel for power generation.

Now

The field's gas became a bargaining chip in regional diplomacy rather than a sold product.

Why this matters now

Cronos is the first Cypriot discovery to reach construction, which is why the October contracts matter more than the earlier finds.

2015-2017

Zohr field development (2015-2017)

Eni discovered the Zohr field off Egypt in 2015 and brought it into production within about two years by connecting it to existing Egyptian processing and pipeline capacity.

Then

Egypt moved from gas shortage to surplus and revived its liquefaction plants.

Now

Spare Egyptian infrastructure became the cheapest route to market for nearby Eastern Mediterranean discoveries.

Why this matters now

Cronos uses the same approach, sending gas to Zohr's facilities and Damietta rather than building new plants in Cyprus.

2020