(WO) — McDermott has secured a subsea contract from Eni Cyprus Limited for the development of the Cronos gas field offshore Cyprus, marking the company’s first subsea project award with Eni.
Under the contract, McDermott will provide project management, engineering, procurement and installation support for the offshore gas development. McDermott classifies the award as “substantial,” representing a contract value between $500 million and $750 million.
The project will be executed by McDermott’s Subsea and Floating Facilities business, drawing on engineering and project resources in Houston, Perth, London and Kuala Lumpur.
McDermott will also deploy its marine construction fleet, including the Amazon deepwater construction vessel, to support offshore installation activities.
“This award demonstrates the strength of McDermott’s integrated subsea engineering, procurement, construction and installation capabilities,” said Mahesh Swaminathan, senior vice president of Subsea and Floating Facilities at McDermott.
The award expands McDermott’s subsea presence in the Eastern Mediterranean as Eni advances development of the Cronos gas field offshore Cyprus.
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