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TotalEnergies approves US$706 million investment in Argentina’s Fénix gas field

French multinational TotalEnergies gave the green light for a US$706 million investment in the development of the Fénix offshore gas field, located about 60 km off the coast of Tierra del Fuego, Argentina.

"The Fénix field will be developed through three horizontal wells drilled by a new unmanned platform in a water depth of 70 meters," the official statement said.

The gas will be transported via a 35-km pipeline to the Véga Pléyade platform operated by TotalEnergies and processed onshore at the Rio Cullen and Cañadón Alfa plants, the company said.

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