A ceremony to sign the contract for the construction and installation of development infrastructure for the Cronos gas field will take place at the Presidential Palace on Monday. Earlier, at noon, President Nikos Christodoulides will receive Eni’s chief operating officer, Guido Brusco, and a company delegation, followed by the signing of the EPCI (engineering, procurement, construction and installation) contract for the field’s development infrastructure. According to CNA, the ceremony will also be attended by Energy Minister Michalis Damianos, the Eni delegation and all the contractors who will sign the contracts for the construction work, which concerns the transport of natural gas to Egypt. Representatives of TotalEnergies and the ambassadors of Egypt and Italy will also be present.
Up to $1.8 billion in contracts
A Wall Street Journal report, cited by Reuters, said Eni is expected to sign contracts worth up to $1.8 billion on Monday to build drilling infrastructure and pipelines for its gas project off Cyprus. According to Reuters, the total value of the contracts is expected to range between $1.3 billion and $1.8 billion, covering subsea infrastructure for the extraction, processing and transport of natural gas to Egypt through subsea pipelines. Nicosia confirmed the report, with competent sources telling CNA that the project’s cost is estimated within that range.
Source: CNA, The Wall Street Journal, Reuters
