TotalEnergies approved the final investment decision (FID) for its Fenix gas field development project, a press release announced on Sept. 19.
The field will be developed through three horizontal wells to produce 10 MMcm/d of natural gas, or 70,000 boe/d, at production start-up in 2025.
The three wells will be drilled from a new unmanned platform with a water depth of 70 m. Gas will be transported to Total's Véga Pleyade platform through a 35 km pipeline to be treated onshore at the company's Rio Cullen and Cañadon Alfa plants.
“This latest development demonstrates TotalEnergies' ability to leverage its hydrocarbon portfolio with projects that have low technical costs and low emissions, that can be brought onstream fast by harnessing synergies with existing facilities," TotalEnergies E&P Americas senior vice president David Mendelson said in the release.
Located 60 km offshore Tierra del Fuego in southern Argentina, TotalEnergies is the project operator with a 37.5% interest, with partners WintershallDea and Pan American Sur holding 37.5% and 25% interest respectively.
According to the company, the Fenix project will represent an investment of approximately $706 million.
“With first gas less than two and a half years from FID, the Fenix project will contribute to maintaining our production levels in Tierra del Fuego and securing supply to the Argentinean gas market," Mendelson continued.
"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,” he added.
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