McDermott has secured a $500 million-$750 million subsea contract from Eni for the Cronos gas development offshore Cyprus, covering project management, engineering, procurement and installation support.
MOL Group has agreed to acquire Shell’s BG Cyprus Limited for up to $720 million, giving it a 35% interest in the Aphrodite gas field upon completion.
Shell has agreed to sell BG Cyprus to MOL Group for up to $720 million, transferring a 35% interest in the Aphrodite offshore gas field. Completion is expected in early 2027.
Eni and TotalEnergies have taken FID on the Cronos gas project offshore Cyprus. Four subsea wells will tie back to Zohr, with the gas processed and liquefied at Damietta LNG.
QatarEnergy, the Government of Cyprus and ExxonMobil signed a commercial discovery declaration for the Glaucus and Pegasus fields in Block 10, advancing regulatory, development and production planning.
Transocean has secured a 390-day, five-well contract for the Deepwater Asgard drillship in the Eastern Mediterranean, adding about $158 million to backlog.
Energean has secured approval to restart the Energean Power FPSO offshore Israel, allowing output at the Karish field to resume after precautionary shutdowns.
Eni has announced a 2 Tcf gas and condensate discovery at Denise W-1 in Egypt’s offshore Temsah Concession. The find is close to existing infrastructure, supporting a fast-track development path in the Eastern Mediterranean.
Energean said the Katlan subsea development offshore Israel remains on track for first gas despite the suspension of the Energean Power FPSO at Karish. The company also reported contract progress, Egypt concession talks and continued activity in the UK North Sea.
