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November 23, 2021

Argo Cluster Conventional Gas Field, Italy

By Carmen

Argo Cluster is a conventional gas development located in deepwater in Italy and is operated by Eni. Discovered in 2008, Argo Cluster lies in block G.C 1.AG, with water depth of around 1,837 feet.

The project is currently in approval stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project was approved in 2018. The development cost is expected to be $705 m. The Argo Cluster conventional gas development will includes satellite platform and subsea trees.

Field participation details

The field is owned by Eni and Energean.


Production from Argo Cluster

Production from the Argo Cluster conventional gas development project is expected to begin in 2024 and is forecast to peak in 2024, to approximately 145 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2057.


Remaining recoverable reserves

The field is expected to recover 70.45 Mmboe, comprised of 422.71 bcf of natural gas reserves.


Contractors involved in the Argo Cluster conventional gas field

The key contractors involved in the Argo Cluster project as follows.

Other Contractors: Altrad Investment Authority

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About Eni

Eni SpA (Eni) is an integrated oil and gas company that discovers, explores, develops and produces crude oil, natural gas and condensates. The company also involved in supply, trading and shipping of natural gas, LNG, electricity and fuels. It has operations in Italy, Cyprus, the UK, Portugal, Algeria, Egypt, Gabon, Nigeria, Russia, Venezuela and other countries. Through its refineries, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and allied products. It commercializes these products through wholesalers and retail networks. The company has properties across Italy, Other European Union, Rest of Europe, Americas, Asia and Africa. Eni is headquartered in Rome, Italy.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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