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Eni starts Cronos development execution after signing major construction and drilling contracts

Eni ($E) signed the main engineering, procurement, construction and drilling contracts for the Cronos gas project offshore Cyprus, launching its execution phase. The package covers subsea equipment, pipelines, installation work, control infrastructure and drilling services. Eni operates the project with a 50% interest alongside TotalEnergies ($TTE). The announcement advances a development that received its final investment decision earlier in the year. Cronos is expected to begin production in t

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Eni completes sale of Nigerian onshore subsidiary to Apex

Eni ($E) completed the sale of Agip Energy and Natural Resources Nigeria to Apex Global Energy, a wholly owned subsidiary of Sterling Oil Exploration and Energy Production. The disposed business held a 5% interest in the Renaissance joint venture, which operates onshore and shallow-water oil and gas assets. Eni said all relevant authorities had approved the transaction. The disposal implements Eni’s effort to rebalance its upstream portfolio and sell assets it considers non-strategic. The compan

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