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Cairo (Egypt), 17 February 2025 – The Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt Karim Badawi, the Minister of Energy, Commerce and Industry of the Republic of Cyprus George Papanastasiou, the Chief Executive Officer of Eni Claudio Descalzi, as well as TotalEnergies, signed in Cairo today the Host Government Agreement for the exploitation of Cyprus’ Cronos Block 6 resources.
The President of the Arab Republic of Egypt Abdel Fattah El-Sisi and the President of the Republic of Cyprus Nikos Christodoulides presided the signing, which took place during the opening ceremony of EGYPES, the premier energy event in Egypt.
This agreement is a concrete milestone to establish a gas hub in the Eastern Mediterranean capitalizing Egypt’s existing hydrocarbon infrastructure and positioning Cyprus as a gas producer and exporter. It outlines a comprehensive framework enabling a rapid development of the Cronos gas discovery offshore Cyprus: the gas will be transported and processed in existing Zohr facilities to be then liquefied in the Damietta LNG plant for export to European markets.
Eni CEO, Claudio Descalzi, commented: “This agreement paves the way to bring Cyprus' gas to the market in a timely fashion, contributing to energy security and competitiveness of energy supply. This project leverages Egypt’s existing infrastructure, including export facilities, which are a key enabler for developments in the Region. Egypt and Cyprus reaffirm their roles in the emerging energy hub of the Eastern Mediterranean, which is set to play an increasing role in the global gas supply in the near future”.
Discovered in 2022 and subsequently appraised in 2024, Cronos gas in place is estimated at more than 3 trillion cubic feet (TCF). Additionally, Block 6 encompasses further potential resources under exploration and appraisal, including the Zeus discovery made in 2022.
Eni has been present in Cyprus since 2013. Block 6 is operated by Eni holding a 50% interest. Eni also operates Block 8 and has participating interests in Blocks 7 and 11.
Eni has been present in Egypt since 1954. The company is currently the country's leading producer with an equity production of approximately 280,000 barrels of oil equivalent per day in 2024. Eni operates in Egypt through its wholly owned subsidiary IEOC and has a 50% share in Damietta LNG Plant.
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
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