McDermott has been awarded a substantial subsea contract by Eni Cyprus Limited (Eni) for the Cronos gas field development offshore Cyprus, marking McDermott’s first subsea project award with Eni and expanding the company’s presence in the Eastern Mediterranean region.
Although the specific order value was not disclosed, McDermott defines a “major contract” as one valued between $500 million and $750 million.
Under the contract, McDermott will provide project management, engineering, procurement and installation support for the development of the Cronos gas field.
“This award demonstrates the strength of McDermott’s integrated subsea engineering, procurement, construction and installation capabilities and reflects the value we bring through our technical expertise and differentiated deepwater asset, the Amazon,” said Mahesh Swaminathan, McDermott’s Senior Vice President, Subsea and Floating Facilities. “Our global execution teams, supported by reliable local partnerships, will help advance the Cronos development safely and efficiently.”
The project will be executed by the Subsea and Floating Facilities team with expertise and resources from Houston, Perth, London and Kuala Lumpur, supported by the company’s marine construction fleet.