Fénix, as the world’s most southerly gas project, will be built offshore Tierra del Fuego by Wintershall Dea and its partners TotalEnergies as well as Pan American Energy. The consortium has committed over $700 million in total.
“This is an important step for Argentina, Wintershall Dea and all partners involved. Fénix is a major natural gas project, that will contribute significant natural gas volumes for more than 15 years to the country’s long-term energy supply,” says Thilo Wieland, Wintershall Dea’s board member responsible for Latin America.
“The Fénix development represents a material pillar for the growing domestic gas production and will support Argentina to meet the increasing demand and to offset imports. Furthermore, with the significant investments and the ripple effects in the supply chain, Fénix will also create value for the Tierra del Fuego province,” explains Manfred Böckmann, Managing Director of Wintershall Dea Argentina.
The first gas from Fénix is expected to start flowing in 2025 and is planned to reach peak production at an estimated 10 million cubic meters per day.
Fénix is a part of the CMA-1 concession in which Wintershall Dea and TotalEnergies (the operator) each have a 37.5% share, whereas Pan American Energy owns a 25% share. The four gas fields Caadón Alfa, Aries, Carina, and Vega Pléyade currently produce in CMA-1 and already meet 16% of Argentina’s demand for natural gas.
Wintershall Dea has operated in Argentina for more than 40 years and will produce 66,000 barrels of oil equivalent per day in 2021, making it the fifth-largest gas producer in the nation.