The first oil from the Anchor field, operated by Chevron with partner TotalEnergies, has started flowing in the U.S. Gulf of Mexico, marking the successful delivery of the high-pressure technology in an industry first.
The high-pressure technology, implemented at the Anchor deepwater field, is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea level.
In development since December 2029, Anchor field consists of a system of subsea wells connected to a semi-submersible floating production unit (FPU) with a production capacity of 75,000 barrels of oil per day and 28 million cubic feet of gas per day.
Total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent.
“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," said Nigel Hearne, executive vice president, Chevron Oil, Products & Gas.
Located 225 kilometers off the Louisiana coast, the FPU at the Anchor field has been designed to minimize greenhouse gas emissions through an all-electric configuration, with electric motors and electronic controls, and the utilization of waste heat and vapor recovery technologies.
Additionally, the FPU utilizes existing pipeline infrastructure to transport oil and natural gas directly to U.S. Gulf Coast markets.
“The start-up of Anchor is a new milestone in the deployment of TotalEnergies’ integrated energy model in the US, combining the development of oil projects with a high leverage to price and a low emissions intensity and growth in Integrated LNG and Integrated Power.
“Delivered safely, on time and within budget, this project will contribute to the company’s free cash flow growth trajectory,” said Nicolas Terraz, President, Exploration & Production at TotalEnergies.
Chevron is the operator of the Anchor field with 62.86% working interest, while TotalEnergies holds the remaining 37.14% stake.
The Anchor FPU is Chevron’s sixth operated facility currently producing in the U.S. Gulf of Mexico, one of the lowest carbon intensity oil and gas basins in the world.
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.