A signing ceremony for the contract to construct and install the infrastructure for the development of the Kronos field will take place on Monday at the Presidential Palace.
Earlier, the President of the Republic, Nicos Christodoulides, will receive Eni’s General Manager of Operations, Guido Brusco, and the Eni delegation.
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According to the President’s schedule, as announced by the Press and Information Office, President Christodoulides will receive Mr. Brusco and the Eni delegation at 12:00 p.m., followed by the signing ceremony for the contract regarding the construction and installation of the infrastructure for the development of the Kronos field (EPCI).
According to information received by CNA, the Minister of Energy, Michalis Damianos, a delegation from Eni, including all the contractors who will sign the contracts for the construction projects related to the Kronos field for the transport of natural gas to Egypt, as well as representatives from Total, and the Ambassadors of Egypt and Italy.
Furthermore, according to a recent report in the Wall Street Journal cited by Reuters, Eni is expected to sign contracts on Monday worth up to $1.8 billion for the construction of drilling infrastructure and pipelines as part of the natural gas project it is developing off the coast of Cyprus.
Reuters reports that the contracts —the total value of which is expected to range between $1.3 billion and $1.8 billion—cover the construction of subsea infrastructure that will facilitate the extraction, processing, and transportation of natural gas to Egypt via undersea pipelines.
Nicosia confirmed the report, with official sources telling CNA that the project’s cost is estimated to fall within that range.
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Source: CNA
