Project Awardmedium confidence
McDermott Wins Contract for Eni's Cronos Project offshore Cyprus
www.rigzone.com · September 10, 2026 · Week 2026-37
Summary
McDermott has secured a substantial contract, valued between $500 million and $750 million, from Eni for the Cronos gas field development offshore Cyprus. The award covers engineering, procurement, construction, and installation (EPCI) for a subsea production system and is a key step in developing Cyprus' first hydrocarbon project.
Strategic Implication
This award strengthens McDermott's backlog in the Eastern Mediterranean, a key gas supply region with potential export ties to in-scope markets like Egypt.