French oil and gas giant Total has started extraction of hydrocarbons on the gas condensate field Vega Pleyade in the Argentine water area.
It is planned to extract 10 mcm of gas a day (70,000 barrels of oil equivalent) within the project, reported RIA Novosti.
Arno Breyak, Total Upstream President, said that Vega Pleyade is the second field, where Total is going to launch production this year. The project will contribute to growth of production in 2016 and years ahead.”
Breyak also said that the project includes “development of one of the biggest gas fields on the shelf of Argentine.” Vega Pleyade is within the concession of Cuenca Marina Austral 1 (CMA-1), which is operated by Total (37.5%). The partners of French company are Wintershall Energia (37.5%) and Pan American Energy (25%).