McDermott Secures Major Subsea Contract for Cyprus Cronos Field
Eni Cyprus Limited has tapped McDermott for a substantial offshore contract, marking the Houston-based firm's first subsea partnership with the Italian energy giant. The deal, valued between $500 million and $750 million, centers on developing the Cronos gas field and signals a strategic expansion into the Eastern Mediterranean.
The project encompasses full-scale engineering, procurement, and installation support, leveraging McDermott’s specialized deepwater vessel, the Amazon. Mahesh Swaminathan, the company's Senior Vice President of Subsea and Floating Facilities, noted that the contract highlights their integrated construction capabilities and technical reach in deepwater environments.
Execution of the development will span a global network, with resources drawn from offices in Houston, Perth, London, and Kuala Lumpur. The work will be supported by McDermott’s marine construction fleet, aiming to accelerate the Cronos gas field's transition from development to production through a combination of international expertise and local partnerships.
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