Now, after the publication of Resolution 625/2022, which incorporated “new hydrocarbon projects” to the benefits granted by the Tierra del Fuego industrial promotion regime, the companies decided to move forward with the execution of the so-called Fénix project.
The project is part of the CMA-1 concession in which Wintershall Dea and operator TotalEnergies each have a 37.5% stake while Pan American Energy holds the remaining 25%. Currently, the four Cañadón Alfa, Aries, Carina and Vega Pléyade gas fields produce in CMA-1, and already supply 16% of Argentina’s natural gas demand.
During the first phase of development, three wells will be drilled from an unmanned wellhead platform installed 60 kilometers from the coast in 70 meters depth.
The production will be evacuated through a 24-inch submarine multiphase line to the Vega Pléyade platform, which is 35 kilometers away.
Based on this, they reported that the first gas they will extract from this field will be ready for the beginning of 2025 and that it is expected to reach a maximum production of around 10 million cubic meters per day.
Thilo Wieland, Wintershall Dea board member responsible for Latin America, said: “This is an important step for Argentina, Wintershall Dea and all the partners involved. Fénix is a large natural gas project, which will contribute significant volumes of gas for more than 15 years to the country’s long-term energy supply.” And he added: “This decision is proof of our commitment to Argentina and will strengthen its role as a central country in our global portfolio.”
Danny Massacese, upstream managing director of Pan American Energy (PAE), stated that “this investment that we will launch with the CMA-1 consortium for the development of Fenix will have a double positive effect for the country, since it will allow the increase of production of hydrocarbons and in turn will reduce LNG imports, generating a positive impact on the trade balance and greater growth of the country’s economic activity”.
For his part, David Mendelson, Senior Vice President of TotalEnergies Exploration for the Americas & Production explained: “This latest development demonstrates the ability of TotalEnergies to take advantage of its hydrocarbon portfolio with projects that have low technical costs and low emissions, which can be put into operation quickly taking advantage of synergies with existing facilities”.
The general director of Wintershall Dea Argentina, Manfred Böckmann, considered that “the Fénix development represents a material pillar for the growing national gas production and will help Argentina to satisfy the growing demand and offset imports.”
He also pointed out: “With the important investments and the domino effect in the supply chain, Fénix will also create value for the province of Tierra del Fuego.” “The project is particularly efficient and therefore creates value, as it will be linked to existing infrastructure offshore and onshore, which will also minimize environmental impacts,” he asserted.
Source: Ambito
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