TotalEnergies has approved the final investment decision for the Fenix gas development, located 37 miles (60 km) off the coast of Tierra del Fuego in southern Argentina.
The Fenix field will be developed through three horizontal wells, drilled from a new unstaffed platform at a depth of 230 ft. (70 meters). The gas will be transported through a 22-mi. (35-km) pipeline to the TotalEnergies-operated Véga Pleyade platform and treated onshore at the company’s Rio Cullen and Cañadon Alfa plants. Production is expected to begin in 2025 with a capacity of 10 million cubic meters of natural gas per day (70,000 barrels of oil equivalent per day). This development represents an investment of approximately US$706 million.
