TotalEnergies and its partners have made the final investment decision (FID) for the Fenix gas project offshore Tierra del Fuego, Argentina.
Located 60km off the Tierra del Fuego coast in southern Argentina, the Fénix gas project is expected to entail an investment of approximately $706m.
Th first development phase of the project will involve the drilling of three wells from an uncrewed wellhead platform installed in a water depth of 70m.
Gas produced from the Fenix field will be transported to the TotalEnergies-operated producing Véga Pleyade platform via a 35km long pipeline.
The gas will then be treated onshore at the Rio Cullen and Cañadon Alfa plants, which are also operated by TotalEnergies.
TotalEnergies Americas exploration and production senior vice-president David Mendelson said: “With first gas less than two and a half years from FID, the Fenix project will contribute to maintaining our production levels in Tierra del Fuego and securing supply to the Argentinean gas market.
“With a carbon intensity of 9kgCO₂/boe, the project will benefit from the company’s technologies in lowering the carbon intensity, such as the installation of wind farms and heat recovery systems.”
Planned to be commissioned in early 2025, the Fenix project is expected to have a production capacity of ten million cubic metres per day of natural gas, which is 70,000 barrels of oil equivalent per day.
Through Total Austral affiliate, the French firm owns an operatorship stake of 37.5% in the Fenix gas field while its partners WintershallDea and Pan American Sur own 37.5% and 25% stakes, respectively.
Wintershall Dea board member responsible for Latin America Thilo Wieland said: “Fénix is a major natural gas project, that will contribute significant natural gas volumes for more than 15 years to the country’s long-term energy supply.”
The Fenix field forms part of the Cuenca Marina Austral 1 (CMA-1) concession, which secured a ten-year extension from the national authorities in Argentina earlier this year.