Chevron Corporation, has announced the beginning of oil and natural gas production from the Anchor project in the deepwater U.S. Gulf of Mexico. Marking 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.
Executive vice president, Chevron Oil, Products & Gas, Nigel Hearne, said: ” The Anchor project represents a breakthrough for the energy industry. 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 semi-submersible floating production unit (FPU), which is Chevron’s sixth operated facility currently producing in the U.S. Gulf of Mexico, has a design capacity of 75,000 gross barrels of oil per day and 28 million gross cubic feet of natural gas per day. The Anchor development will consist of seven subsea wells tied into the Anchor FPU, located in the Green Canyon area, approximately 140 miles (225 km) off the coast of Louisiana, in water depths of approximately 5,000 feet (1,524 m). Total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent.
“This Anchor milestone demonstrates Chevron’s ability to safely deliver projects within budget in the Gulf of Mexico,” said Bruce Niemeyer, president, Chevron Americas Exploration & Production. “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.”
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.
The firm, through its subsidiary Chevron U.S.A. Inc., is operator and holds a 62.86 percent working interest in the Anchor project. Co-owner TotalEnergies E&P USA, Inc. holds a 37.14 percent working interest.
