On September 20, 2024, TotalEnergies announced the commencement of production from the Fenix gas field, situated 60 kilometers off the coast of Tierra del Fuego in southern Argentina. The Fenix field is part of the Cuenca Marina Austral 1 (CMA-1) concession, where TotalEnergies holds a 37.5% operated interest, partnering with Harbour Energy, which also holds 37.5%, and Pan American Energy, which has a 25% stake.

With a production capacity of 10 million cubic meters per day (equivalent to 70,000 barrels of oil equivalent per day), the Fenix development features a new unmanned platform located at a water depth of 70 meters. This platform is connected to existing CMA-1 facilities, enhancing operational efficiency. The gas extracted from Fenix is transported through a 35-kilometer subsea pipeline to the Véga Pléyade platform, also operated by TotalEnergies, where it undergoes treatment at onshore facilities at Río Cullen and Cañadon Alfa.

The Fenix project stands out for its low-cost and low-emission profile, boasting a carbon intensity of only 9 kg CO2e per barrel of oil equivalent. This development effectively utilizes existing infrastructure to optimize resource extraction while minimizing environmental impact.

Javier Rielo, Senior Vice President of Americas, Exploration & Production at TotalEnergies, highlighted the significance of this achievement: "The start-up of Fenix production safely and ahead of schedule, just two years after the final investment decision (FID), demonstrates our Company’s capability to deliver its projects efficiently. Fenix will help maintain our gas production plateau in Tierra del Fuego, ensuring a stable supply for the Argentine gas market." He emphasized that with its low break-even point and carbon intensity, Fenix aligns seamlessly with TotalEnergies’ strategy of focusing on low-cost and low-emission projects.

TotalEnergies has been active in Argentina since 1978 and currently employs over 1,100 individuals across various business segments, including Exploration & Production, renewable energy (solar and wind), and lubricants.

Through its affiliate, Total Austral, the company is the leading international gas producer in Argentina, responsible for around 25% of the country’s gas production. In 2023, TotalEnergies’ equity share of production averaged 88,000 barrels of oil equivalent per day.

In Tierra del Fuego, TotalEnergies, along with partners Harbour Energy (37.5%) and Pan American Sur (25%), operates the Cuenca Marina Austral 1 (CMA-1) concession, which encompasses onshore fields and six offshore platforms.

In Neuquén, the company has equity interests in five operated onshore blocks covering over 235,000 net acres. Throughout Argentina, TotalEnergies manages three wind farms and one solar plant, boasting a total installed capacity of approximately 300 MW.