TotalEnergies: launches its offshore gas project in Argentina


(CercleFinance.com) – TotalEnergies announces that it has approved the final investment decision (FID) for the Fenix ​​gas development project, located 60 kilometers south of Argentina.

The company, through its subsidiary Total Austral, operates the project with a 37.5% stake, in partnership with Wintershall DEA (37.5%) and Pan American Sur (25%).

The development of the Fenix ​​field comprises three horizontal wells, drilled from a new automated platform implanted in 70 meters of water depth.

When it goes into production, scheduled for early 2025, Fenix ​​will produce 10 million cubic meters per day of natural gas, or 70,000 barrels of oil equivalent per day. Cost of this investment: 706 million dollars.

‘The Fenix ​​project will secure the supply of gas to the Argentinian market. It will benefit from the company’s technologies to reduce the carbon intensity of the facilities, in particular the installation of wind farms or heat recovery systems,” said David Mendelson, Americas Director of TotalEnergies Exploration & Production.

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