Petrojet Wins Cronos Gas Field Contracts in $1.8 Billion Cyprus Development

Petrojet has won key contracts for the development of Cyprus's offshore Cronos natural gas field, including a 57-kilometer pipeline linking the Zohr field facilities to Egypt's Damietta LNG plant, as part of nine agreements worth about $1.8 billion signed in Nicosia. TradingView reported the awards, citing a statement from Egypt's Ministry of Petroleum and Mineral Resources.

Petrojet's Pipeline Role in the Cronos Development

Petrojet will act as main contractor for the engineering, procurement and construction of the onshore pipeline, which will have a diameter of 36 inches. The project is intended to integrate gas produced from Cronos into Egypt's existing infrastructure for processing, liquefaction and potential exports to international markets.

The nine agreements signed during the ceremony involved international companies including Petrojet, Baker Hughes, Dalmine, Technip, McDermott, Oceaneering, China Merchants Heavy Industry, Saipem and Tenaris. Petrojet also secured an $11 million contract from US-based McDermott to fabricate deep-water structures for the Cronos field with a combined weight of approximately 900 tons.

The Egyptian contractor is expected to receive two additional fabrication work packages, which could raise the total weight of structures assigned to it to around 3,000 tons. Petrojet is also preparing technical and financial proposals for further infrastructure needed to connect Cypriot gas production with the Zohr facilities and the Damietta LNG plant.

The Cronos field, operated by Eni in partnership with TotalEnergies, is located in Block 6 offshore Cyprus. The partners approved its development in July 2026, with production expected to begin in the first half of 2028.

Petrojet's Record on Regional Energy Projects

According to akta.pro company records, Petrojet is an Egyptian state-owned EPC contractor founded in 1975 and headquartered in New Cairo, serving national and international oil companies on oil and gas fields, pipelines, LNG and hydrogen infrastructure across MENA and Europe. The same records list a revenue estimate of $1 billion-$5 billion and a headcount range of 10001+.

The records also show a $273 million EPC contract from OQ Gas Networks to build the 193-kilometer Fahud-Suhar natural gas pipeline in Oman, alongside a further $250 million hydrogen pipeline phase. In October 2025, Petrojet won a $1.087 billion general contractor role for Phase 2 of Algeria's Hassi Bir Rekaiz oil field through a consortium it leads with Arkad S.p.A.

Earlier Framework Agreements Across the Region

In July 2026, Petroleum Development Oman signed a six-year engineering, procurement and construction framework agreement with the Petrojet-ENPPI Egyptian consortium, positioning the firms to compete for projects in a portfolio valued at over $6 billion, Yahoo reported. That month, Egypt's PETROJET and ENPPI also secured a framework agreement with OQ Gas Networks and other Omani entities for energy infrastructure projects in Oman, according to AInvest.

Earlier, in July 2026, Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, toured PETROJET's WAVE C3A project site in the UAE during an official visit, reviewing the company's engineering, procurement and construction work on oilfield infrastructure, Egypt Oil & Gas reported.

Cronos Production Timeline

Production from the Cronos field is expected to begin in the first half of 2028, following the partners' approval of its development in July 2026.