Total Energy announced on July 28 that the company and ENI Group have made a final investment decision on the development of the Cronos gas field in Block 6 off the coast of Cyprus. Total Energy and Eni each hold 50% interest in the project, with Eni as the operator. Discovered in 2022 and assessed in 2024, the Cronos gas field is located in a deep sea area about 185 km southwest of the Cyprus coast. The project is planned to be developed through 4 submarine wells. The natural gas will be transported to Egypt via subsea pipelines and exported to Europe after liquefaction at the Damietta LNG terminal. The project is expected to start production in 2028, with peak production of about 500 million cubic feet of natural gas per day, which is equivalent to about 2.8 million tons of liquefied natural gas per year. Among them, Total Energy will be responsible for selling 50% of production. The company said the project will use Egypt's existing infrastructure to speed up development progress and reduce the carbon emission intensity of the production process.

Total Energy announced on July 28 that the company and ENI Group have made a final investment decision on the development of the Cronos gas field in Block 6 off the coast of Cyprus. Total Energy and Eni each hold 50% interest in the project, with Eni as the operator. Discovered in 2022 and assessed in 2024, the Cronos gas field is located in a deep sea area about 185 km southwest of the Cyprus coast. The project is planned to be developed through 4 submarine wells. The natural gas will be transported to Egypt via subsea pipelines and exported to Europe after liquefaction at the Damietta LNG terminal. The project is expected to start production in 2028, with peak production of about 500 million cubic feet of natural gas per day, which is equivalent to about 2.8 million tons of liquefied natural gas per year. Among them, Total Energy will be responsible for selling 50% of production. The company said the project will use Egypt's existing infrastructure to speed up development progress and reduce the carbon emission intensity of the production process.