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ENI highlights Cyprus-Egypt agreement in its results for Q1, 2025
12:39 - 24 April 2025
ENI has highlighted its agreement with Cyprus and Egypt for the exploitation of "Cronos" in Block 6 of the Cypriot Exclusive Economic Zone (EEZ) in the publication of its financial results for the first quarter of 2025.
"Historic agreement signed with Cyprus and Egypt to exploit the sizeable gas resources of the Cronos discovery in Block 6 off Cyprus", the company notes in its press release regarding its results, adding that the gas from Cronos is to be exported to European premium market, leveraging ENI's assets and LNG capacity in Egypt.
ENI reports solid results for the first quarter of the year, with its CEO Claudio Descalzi noting that these reflect "our continued focus on our strategy, despite the uncertain macro-economic backdrop. We remain financially disciplined and resolute on leveraging our competitive advantages built on exploration, proprietary technologies, and innovative business models, to deliver transformation and generate value for our shareholders".
(Source: CNA)
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