PARIS, France—TotalEnergies and partners Wintershall Dea and Pan American Sur have taken a final investment decision on the Fenix gas development, 60 km offshore the coast of Tierra del Fuego in southern Argentina.
The Fenix Field in the Cuenca Marina Austral 1 (CMA-1) concession will be developed through three horizontal wells, drilled from a new unmanned platform in 70 m water depth.
Produced gas will head through a new 35-km, 24-inch multiphase subsea pipeline to the TotalEnergies-operated Véga Pleyade platform for subsequent treatment onshore at the Rio Cullen and Cañadon Alfa plants.
First gas should come onstream in early 2025, with Fenix eventually producing 70,000 boe/d. The estimated cost of the project is about $706 million.
David Mendelson, senior vice president, Americas, with TotalEnergies Exploration & Production, said, “With a carbon intensity of 9 kgCO2/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.”
Earlier this year, the Argentinian authorities granted the CMA-1 concession, including Fenix, an extension for 10 years until April 30, 2041. As a new gas project in Tierra del Fuego, it qualifies for benefits provided under Law 19640’s special tax regime.
The CMA-1 concession includes the offshore Hidra, Kaus, Carina, Aries, Vega Pleyade and Fenix fields and the onshore Ara and Cañadon Alfa accumulations.
09.19.2022
