McDermott has secured a substantial subsea contract from Eni for the Cronos gas field development offshore Cyprus. Valued between US$500m and US$750m, the award marks the contractor's first subsea project with the Italian operator in the Eastern Mediterranean.
Under the agreement, McDermott will deliver project management, engineering, procurement and installation support. The work will be executed by the firm's Subsea and Floating Facilities division, leveraging global expertise from offices in Houston, Perth, London and Kuala Lumpur. Furthermore, offshore installation will be supported by the company's marine construction fleet, including the deepwater Amazon vessel.
Discovered in Block 6, the Cronos project will feature four subsea wells tied back to existing infrastructure in Egypt. Production is anticipated to begin in 2028, targeting a plateau of 500MMcf/d.
Track more details on the Cronos gas field directly on EICDataStream.