Three major commercial agreements were signed on Monday for the development of the ‘Kronos’ natural gas field, located in Block 6 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus.
The signing ceremony took place in the presence of Cyprus’ Minister of Energy, Commerce and Industry, George Papanastasiou, and Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, during the Eastern Mediterranean Energy Conference and Exhibition – EMC 2025 in Limassol.
According to a statement from the Ministry of Energy, the agreements were concluded between the operators of Egypt’s natural gas infrastructure, the Egyptian Natural Gas Holding Company (EGAS), and energy giants Eni and TotalEnergies, the members of the consortium licensed to explore and develop Block 6.
Production expected by 2027
The agreements pave the way for the commercial exploitation of Kronos, with first gas production expected in 2027, following the approval of the Development and Production Plan and a final investment decision (FID) anticipated by late 2025.
The Ministry highlighted that the project is set to make a substantial contribution to regional energy security and promote the Eastern Mediterranean as a strategic energy hub.
These latest commercial agreements build upon the Host Government Agreement (HGA) signed in February 2025 in Egypt, witnessed by the Presidents of Cyprus and Egypt. That agreement outlined the framework for the development of hydrocarbon resources in Block 6, marking a deepening of strategic energy ties between the two countries.
The Ministry described Monday’s signing as another milestone in the journey towards monetising the Kronos field and as tangible evidence of the strong and ongoing cooperation between Cyprus and Egypt in the energy sector.