Eni targets 2028 gas production from Cyprus’ Cronos field using Egyptian infrastructure
Italy’s Eni aims to begin gas production from Cyprus’ Cronos field in 2028 by leveraging Egypt’s existing energy infrastructure to reduce development costs and accelerate access to markets, Diego Portoghese, the company’s Chief Executive Officer for North Africa and the Levant, said on Tuesday.
Speaking during the Mediterranean Offshore Conference and Exhibition (MOC 2026) in Alexandria, Portoghese said the project, which reached a final investment decision a few months ago, would establish the first fully integrated cross-border value chain between Egypt and Cyprus.
The project will rely on Egypt’s existing offshore facilities, transportation networks, and gas processing and export infrastructure, helping reduce development costs, shorten implementation timelines and accelerate gas commercialisation without requiring similar new infrastructure.
Portoghesi said the project would benefit both countries by maximising returns on Egypt’s energy infrastructure investments and strengthening its position as a regional energy hub, while providing Cyprus with a competitive route to commercialise its gas resources.
He added that Eni aims to make Cronos the first Cypriot gas field to bring production to market, enabling the development of resources that might otherwise take longer to commercialise or remain untapped.
Portoghesi also reaffirmed Eni’s commitment to investing in Egypt, where it has operated for more than 70 years and is the country’s largest natural gas producer.
He highlighted the West Denis gas discovery, following a commercial agreement reached in August 2025 and the start of drilling two months later. The discovery is estimated to contain around two trillion cubic feet of gas.
Eni is working with its partner BP, the Egyptian General Petroleum Corporation (EGPC) and the Ministry of Petroleum and Mineral Resources to complete the procedures required to reach a final investment decision, with production targeted to begin in less than two years as part of efforts to accelerate development of the discovery.