TotalEnergies has approved the final investment decision for the Fenix gas development, located 60 km off the coast of Tierra del Fuego in southern Argentina.
Through its Total Austral affiliate, TotalEnergies operates the project with a 37.5% interest, in partnership with WintershallDea (37.5%) and Pan American Sur (25%).
The Fenix field will be developed through three horizontal wells, drilled from a new unmanned platform in 70 meters of water depth. The gas will be transported through a 35km pipeline to the TotalEnergies-operated Véga Pleyade platform and treated onshore at the Rio Cullen and Cañadon Alfa plants, also operated by the Company. At production start-up, expected in early 2025, Fenix will produce10 million cubic meters per day of natural gas (70,000 barrels of oil equivalent per day). This development represents an investment of approximately USD 706M.
