Chevron, in partnership with TotalEnergies, has commenced oil and gas production from the Anchor deepwater project located in the U.S. Gulf of Mexico.
This project is notable for its use of high-pressure high-temperature (HPHT) technology, capable of safely operating at pressures up to 20,000 psi in reservoir depths reaching 34,000 feet below sea level.
Unlocking Deepwater Resources
Nigel Hearne, executive vice president of Chevron Oil, Products & Gas, hailed the Anchor project as “a breakthrough for the energy industry.”
He emphasized that the application of this pioneering deepwater technology enables access to previously inaccessible resources and will pave the way for similar high-pressure developments in the deepwater sector.
Anchor FPU and Production Capacity
The Anchor project utilizes a semi-submersible floating production unit (FPU) with a design capacity of 75,000 barrels of oil per day (bopd) and 28 million cubic feet of gas per day (MMcfgd).
The development comprises seven subsea wells connected to the Anchor FPU, situated in the Green Canyon area, roughly 140 miles off the Louisiana coast, at water depths of about 5,000 feet.
The estimated total recoverable resources from the Anchor field are projected to reach up to 440 million barrels of oil equivalent (MMboe).
Chevron’s Gulf of Mexico Presence & Environmental Considerations
The Anchor FPU marks Chevron’s sixth operated facility currently producing in the U.S. Gulf of Mexico, a region recognized as one of the lowest carbon intensity oil and gas basins globally.
Chevron anticipates that its operated and non-operated facilities in the Gulf of Mexico will collectively produce 300,000 barrels of oil equivalent per day by 2026.
In an effort to minimize carbon emissions, the Anchor FPU was designed as an all-electric facility, utilizing electric motors and electronic controls.
Furthermore, it incorporates waste heat and vapor recovery units. The project also leverages existing pipeline infrastructure for the efficient transportation of oil and natural gas directly to U.S. Gulf Coast markets.
Ownership and Collaboration
Chevron, through its subsidiary Chevron U.S.A. Inc., serves as the operator and holds a 62.86% working interest in the Anchor project. TotalEnergies E&P USA, Inc. holds the remaining 37.14% working interest.