Argentina – Fenix Gas Development, located 60 km off the coast of Tierra del Fuego in southern Argentina, has received the final investment decision from TotalEnergies, a French multinational integrated energy and petroleum corporation.
Three horizontal wells, drilled from a brand-new unmanned platform in 70 meters of water depth, will be used to develop the Fenix field. The gas will be piped 35 kilometers to the TotalEnergies-run Véga Pleyade platform, where it will be processed before being sent onshore to be treated at the Rio Cullen and Caadon Alfa plants.
Naural gas production
When Fenix begins producing natural gas in the early 2025, the rate will be 10 million cubic meters per day (70,000 barrels of oil equivalent per day). About $706 million was spent on this project.
The CMA-1 concession, which Fenix is a part of, was granted a ten-year extension by national authorities on April 18, 2022, until April 30, 2041. TotalAustral, an associate of TotalEnergies, manages the project on behalf of the partners, WintershallDea (37.5%) and Pan American Sur (25%).