Under development by TotalEnergies, the Fenix project has set its final investment decision (FID) at approximately US$706m. Located about 77km off the coast, Fenix is a gas field in Argentina’s Tierra del Fuego province.
The project includes the drilling of three horizontal wells in a water depth of 70m. The new platform from which these works will be executed is still unnamed.
Fenix’s gas output will be transported by a 35km pipeline to platform Véga Pleyade, operated by TotalEnergies since 2016. The gas will then be treated onshore, at the operator’s Rio Cullen and Cañadon Alfa facilities.
Besides TotalEnergies’ 37.5% operating stake, Fenix is also owned by partners WintershallDea (37.5%) and Pan American Sur (25%).
Estimated to hold a reserve of 70,000 barrels of oil equivalent (boe) per day, the field is expected start operations in the first quarter of 2025.
For more information please visit EICDataStream.