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McDermott Wins First Eni Subsea Award For Cyprus Cronos Gas Field

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McDermott won a subsea contract from Eni Cyprus (E) for the Cronos gas field offshore Cyprus, marking its first subsea award from Eni and strengthening its position in the Eastern Mediterranean, it said Tuesday.

The contract covers project management, engineering, procurement and installation support for the offshore Cronos gas field development.

McDermott will draw on teams in Houston, Perth, London and Kuala Lumpur to execute the work, with support from its marine construction fleet.

"Our global execution teams, supported by reliable local partnerships, will help advance the Cronos development safely and efficiently," said Mahesh Swaminathan, McDermott's senior vice president, subsea and floating facilities.

"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," Swaminathan added.

Price: $54.89, Change: $+1.31, Percent Change: +2.44%

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