Chevron begins production of breakthrough Anchor project in Gulf of Mexico

Chevron has started oil and natural gas production from the Anchor project in the Gulf of Mexico.

This marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level.

“The Anchor project represents a breakthrough for the energy industry,” Nigel Hearne, executive vice president, Chevron Oil, Products & Gas, said. “Application of this industry-first deepwater technology allows us to unlock previously difficult-to-access resources and will enable similar deepwater high-pressure developments for the industry.”

The Anchor development will consist of seven subsea wells tied into the Anchor semi-submersible floating production unit (FPU) located in the Green Canyon area, approximately 140 miles off the coast of Louisiana. It is located in water depths of approximately 5,000 feet.

Total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent. It has a design capacity of 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day.

“This Anchor milestone demonstrates Chevron’s ability to safely deliver projects within budget in the Gulf of Mexico,” Bruce Niemeyer, president, Chevron Americas Exploration & Production, said. “The Anchor project provides affordable, reliable, lower carbon intensity oil and natural gas to help meet energy demand, while boosting economic activity for Gulf Coast communities.”

The Anchor FPU is Chevron’s sixth operated facility currently producing in the Gulf of Mexico, which is one of the lowest carbon intensity oil and gas basins in the world.

Chevron’s facilities in the Gulf of Mexico are expected to produce a combined 300,000 net barrels of oil equivalent per day by 2026.

The Anchor FPU was designed as an all-electric facility with electric motors and electronic controls to reduce carbon emissions. In addition, it utilizes waste heat and vapor recovery units as well as existing pipeline infrastructure to transport oil and natural gas directly to U.S. Gulf Coast markets.

Chevron holds a 62.86 percent working interest in the Anchor project. Co-owner TotalEnergies E&P USA holds a 37.14 percent working interest.

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