Chevron Corporation announced the commencement of oil and natural gas production from its Anchor project, located in the deepwater US Gulf of Mexico. This milestone marks a significant achievement in the energy industry, as the Anchor project introduces high-pressure technology capable of safely operating at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level.
Nigel Hearne, executive vice president of Chevron Oil, Products & Gas, highlighted the significance of the Anchor project, describing it as a breakthrough for the energy sector. He emphasised that the application of this industry-first deepwater technology enables Chevron to access previously unreachable resources, paving the way for similar high-pressure deepwater developments in the future.
The Anchor project features a semi-submersible floating production unit (FPU) with a design capacity of 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day. The development includes seven subsea wells tied into the Anchor FPU, which is situated in the Green Canyon area, approximately 140 miles (225 km) off the coast of Louisiana, in water depths of around 5,000 feet (1,524 m). The total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent.
Bruce Niemeyer, president of Chevron Americas Exploration & Production, remarked on the successful delivery of the Anchor project, underscoring Chevron’s capability to safely complete projects within budget in the Gulf of Mexico. He noted that the Anchor project contributes to providing affordable, reliable, and lower carbon intensity oil and natural gas, meeting energy demand while stimulating economic activity in Gulf Coast communities.
The Anchor FPU is Chevron’s sixth operated facility currently in production in the US Gulf of Mexico, one of the world’s lowest carbon intensity oil and gas basins. Chevron’s operated and non-operated facilities in the Gulf of Mexico are expected to produce a combined 300,000 net barrels of oil equivalent per day by 2026.
In an effort to reduce carbon emissions, the Anchor FPU was designed as an all-electric facility, equipped with electric motors and electronic controls. Additionally, the FPU incorporates waste heat and vapour recovery units and leverages existing pipeline infrastructure to transport oil and natural gas directly to US Gulf Coast markets.
Chevron, through its subsidiary Chevron USA Inc., operates the Anchor project and holds a 62.86 percent working interest. Co-owner TotalEnergies E&P USA, Inc. holds the remaining 37.14 percent working interest.
For more information visit www.chevron.com
