TOTALENERGIES SE: TotalEnergies SE: Argentina: Launch of the Fenix Offshore Gas Project
20 Septembre 2022 - 8:00AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) 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 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 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 $706 million.
"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," said David
Mendelson, Senior Vice President, Americas at TotalEnergies
Exploration & Production. "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. With a carbon intensity of 9
kgCO(2) /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."
On April 18, 2022, the national authorities granted the CMA-1
concession, including Fenix, an extension for 10 years until April
30,2041. As a new gas project in Tierra del Fuego, the national
authorities also granted Fenix the benefits provided for under Law
19640's special tax regime.
TotalEnergies in Argentina
TotalEnergies has been operating in Argentina since 1978,
through its Total Austral affiliate, and is the country's leading
international gas producer, with some 25% of production. The
Company's equity share of production averaged 81,000 barrels of oil
equivalent per day in 2021.
In Tierra del Fuego, alongside partners WintershallDea (37.5%)
and Pan American Sur (25%), TotalEnergies (37.5%) operates the
Cuenca Marina Austral 1 (CMA-1) concession, which includes the
onshore Ara and Cañadon Alfa fields and the offshore Hidra, Kaus,
Carina, Aries, Vega Pleyade and Fenix fields.
The Company holds equity interests in nine blocks of the onshore
Neuquén basin, spanning more than 300,000 net acres, of which five
are operated. Since 2018, TotalEnergies has been developing the
AguadaPichana Este Unconventional field, which lies in the
VacaMuerta wet gas window.
TotalEnergies also has Marketing & Services and Renewables
activities in Argentina through its Total Erenaffiliate, with
operated capacity of 180 MW coming from one solar plant and two
wind farms.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations:+33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
Investor Relations:+33 (0)1 47 44 46 46 l
ir@totalenergies.com
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
Cautionary Note
The terms "TotalEnergies", "TotalEnergies company" or "Company"
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words "we", "us" and "our" may also
be used to refer to these entities or to their employees. The
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shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies' financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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SOURCE: TotalEnergies SE
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