Baker Hughes has secured a contract from Italian energy company Eni to supply subsea production equipment and services for the deepwater Cronos natural gas development offshore Cyprus, with the award recorded in the third quarter  (Q3) of 2026, the US energy technology company said on October 28.

The contract supports Eni’s accelerated development schedule. Baker Hughes will provide standardized, configurable subsea systems intended to simplify project execution, reduce delivery risks and help bring the field online sooner.

“Baker Hughes has worked alongside Eni on deepwater projects around the world for many years, and Cronos is another important step in that relationship,” said Amerino Gatti, executive vice president of Oilfield Services and Equipment at Baker Hughes.

He added that the company’s deepwater experience and configurable technology would support Eni’s efforts to develop the reserves safely on an accelerated timeline.

The scope covers subsea trees, wellheads, connectors, manifolds, topside controls and related services.

Project work is underway, with the first equipment deliveries scheduled for the first half of 2027.

Baker Hughes reported a 14% year-on-year (YoY) increase in revenue to $8.03 billion in Q3 2026.