Dead cow in the sea? After an investment of 700 million dollars, oil companies begin producing gas on the Argentine coast

The oil companies Total (France), Wintershall Dea (Germany) and PAE will start in November to produce natural gas with the Project Phoenix, in Tierra del Fuegoafter disbursement investments of approximately 700 million dollars.

This week, the companies managed to install in the middle of the Argentine Sea A 4,800 ton oil platform built in Italy. It was located approximately 60 kilometers from the coast of Land of firein waters 70 meters deep.

The Fénix project is expected to reach peak production of approximately 10 million cubic meters per day (MMm3/d) of natural gas, which would represent a 7% more on national production that Argentina had last winter -about 143 MMm3/d-. The project belongs 37.5% to Total, 37.5% to Wintershall Dea and 25% to PAE.

During the first phase of development, three wells will be drilled from an unmanned wellhead platform. The production will be evacuated through a multi-phase line underwater 24 inches to platform Vega Pleiade, located 35 kilometers away. The entry into the national system will take place San Martin pipelinewhich has available capacity due to the decline of other wells.

“Given the size of the project, the logistics and installation of the platform took place in two phases: first the installation of the jacket with four piles in January, followed by the lifting and positioning of the upper deck, weighing 1,500 tonnes,” the participating companies reported.

“As of January 8th the cover has been transported from Rosetti Marino shipyard in Italy to Tierra del Fuego, within a month, on board the heavy transport ship HTV Interocean II. Four ships participated in the installation of both parts of the platform, led by Heavy lift vessel Heerema Aegir. All work completed safely and without accidents“, the German Wintershall Dea underlined in a statement.

The Fénix platform covers an area of 2,500 m2 and consists of five levels: the heliportthe upper deck, the main deck with the wellheads and instrument room, and the lower deck. The platform is designed to be operated from the ground, without the need for a permanent crew.

Although oil exploration offshore has been harshly questioned by groups environmentalists, the extraction of oil and natural gas in the Argentine Sea has been going on for more than 50 years, without accidents. In fact, about a 15% of last year’s gas production was offshore.

The economic possibilities that have opened up after the last tender for the areas – in 2019 – could mean another dead cow, if the exploration, which will take almost a decade, is successful. Starting in 2030, Argentina could join exports for more than 20,000 million dollars and employs another 30,000 people for him offshore. Be positioned “in front” of Namibiawhere oil resources have been found, geologists assume that fuels are also deposited on this side of the Atlantic Ocean.