A Barrel Fulll Archive

22 August 2022 Eni announces a significant gas discovery in the Cronos-1 well drilled in Block 6, 160 km off Cyprus coastline, in 2,287 metres of water depth. The Block is operated by Eni Cyprus holding 50% interest with TotalEnergies as partner. Preliminary estimates indicate about 2.5 TCF of gas in place, with significant additional upside that will be investigated by a further exploration well in the area. The well has encountered an important gas column in a carbonate reservoir sequence of fair to excellent properties. The intense data acquisition campaign has shown an overall net pay of more than 260m with intervals owning excellent permeability. Studies on a fast-track development options are already ongoing. Cronos-1 well is the fourth exploration well drilled by Eni Cyprus and the second well in Block 6, following the gas discovery of Calypso-1 in 2018. The gas discovery of Cronos-1 can unlock additional potential in the area and is part of Eni’s successful effort to provide f...

Eni has reached the Final Investment Decision (FID) to develop Cronos project , in deep waters offshore Cyprus, with the target to bring the first Cypriot gas to market in 2028. The project, operated by Eni, will bring to production the gas volumes from Cronos field, in Block 6, which holds more than 3 Tcf of gas initially in place (GIIP). Production is expected to reach a plateau of 500 mmscf/d; gas will be transported and processed in existing Zohr facilities, in Egypt, then transferred and liquefied in Damietta LNG plant for export as LNG to international markets, primarily Europe. Eni CEO Claudio Descalzi commented: “Cronos fast-track initiative marks a concrete milestone in positioning Cyprus as a European gas producer and exporter and it unlocks the establishment of a regional gas hub in the Eastern Mediterranean by leveraging Egypt’s existing hydrocarbon infrastructure. It is furthermore an example of international cooperation and a concrete contribution to the diversification a...

2 September 2026 In the presence of the Acting President of the Bolivarian Republic of Venezuela, Delcy Rodríguez, during the visit to Venezuela by U.S. Secretary of Energy Chris Wright, and in the presence of the Venezuelan Minister of Hydrocarbons, Paula Henao, the Chief Executive Officer of the state-owned company PDVSA, Héctor Obregón, and Eni Chief Executive Officer Claudio Descalzi, Eni and PDVSA signed the “Contrato de Participación Productiva de Hidrocarburos” (CPPH) relating to the development of the Junín 5 giant oil field , located onshore in the Orinoco Belt. The signing of the CPPH marks the completion of the process launched with the signing of the Head of Terms on 28 April 2026, with the aim of reviving oil production through the transition from the current operating model of the Petrojunínjoint venture (Eni 40%, PDVSA 60%) to the new contractual regime established under the CPPH, introduced by the Organic Hydrocarbons Law approved by the Venezuelan National Assembly in ...

June 20, 2024 TotalEnergies, operator of OML 58 onshore license in Nigeria with a 40% interest, together with the Nigerian National Petroleum Corporation Ltd (NNPCL, 60%), have taken the Final Investment Decision (FID) for the development of the Ubeta gas field . Located about 80 km northwest of Port Harcourt in Rivers state, the OML 58 license contains two fields currently in production, the Obagi oil field and the Ibewa gas and condensate field. OML58 gas production is processed in the Obite treatment center and supplied to both the Nigerian domestic gas market and to Nigeria LNG (NLNG) plant. Also located in OML58, the Ubeta gas condensate field will be developed with a new 6-well cluster connected to the existing Obite facilities through a 11 km buried pipeline. Production start-up is expected in 2027, with a plateau of 300 million cubic feet per day (about 70,000 barrels of oil equivalent per day including condensates). Gas from Ubeta will be supplied to NLNG, a liquefaction plant...

2 October 2025 Eni and its partners CNPC, ENH, Kogas, and XRG have reached the Final Investment Decision (FID) to develop the Coral North FLNG project , deepwater offshore Cabo Delgado, north of Mozambique. The signing took place in Maputo today, at the presence of the President of Mozambique Daniel Francisco Chapo, and Eni CEO Claudio Descalzi. The project will put in production the gas volumes from the northern part of Area’s 4 Coral gas reservoir, in the Rovuma basin, through a state-of-the-art floating LNG facility. The project will be implemented by the Joint Venture formed by Eni (50%), CNPC (20%), Kogas (10%), ENH (10%) and ADNOC’s subsidiary XRG (10%). Eni CEO Claudio Descalzi commented: “Coral North project leverages Eni’s unmatched exploration skills, our trademark fast-track and capital disciplined development capabilities, Mozambique’s vast gas resources and its strategic geographic position. With Coral North we will contribute to supply the worldwide growing demand for LNG...

Jun. 08, 2026 JGC Holdings Corporation today announced that its group company, JGC France S.A.S., in partnership with Technip Energies France S.A.S. and Samsung Heavy Industries Co., Ltd. of South Korea, has been awarded a contract to provide engineering, procurement, construction, installation, and commissioning (EPCIC) services for a floating liquefied natural gas (FLNG) project offshore Mozambique developed by Eni and its Partners CNPC, ENH, XRG, and KOGAS. The contract has been awarded by Mozambique Rovuma Venture S.p.A. (MRV) on behalf of the Area 4 Partners. The project, known as the Coral North Project , involves the construction of a new FLNG facility with a production capacity of approximately 3.6 million tonnes per annum. The facility will be installed in the Coral gas field, located about 50 kilometers offshore northern Mozambique. Under the contract, JGC France and Technip Energies, through their joint venture, will be primarily responsible for the engineering and procurem...