**Chevron Marks a Milestone in the Gulf of Mexico with the Start of Oil Production at the Anchor Field**
In a significant step forward for the oil and gas industry, Chevron Corporation has officially begun oil and natural gas production at the Anchor field, located in the deepwater area of the US Gulf of Mexico. This feat represents a groundbreaking accomplishment for Chevron, particularly with the deployment of high-pressure technology rated to 20,000 psi, a first in the industry’s deepwater developments.
The Anchor project, which began its development journey in December 2019, is a testament to Chevron’s prowess in safely delivering complex projects within budget constraints. This initiative showcases the company’s commitment to leveraging advanced technology to unlock previously inaccessible resources in challenging deepwater environments.
### Key Highlights of the Anchor Project
– **Advanced Technology:** The Anchor field utilizes subsea high-pressure technology rated to 20,000 psi, enabling the extraction of oil and gas from reservoirs reaching depths of up to 34,000 feet below sea level.
– **Production Capacity:** The Anchor semi-submersible floating production unit (FPU) 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 system consists of seven subsea wells tied into the FPU.
– **Location:** Situated in the Green Canyon area, approximately 140 miles (225 km) offshore Louisiana, the Anchor field operates in water depths of about 5,000 feet (1,524 meters).
– **Total Potentially Recoverable Resources:** The Anchor field is estimated to contain up to 440 million barrels of oil equivalent, a substantial contribution to the region’s oil and gas reserves.
### Sustainable Practices
In line with its sustainability initiatives, Chevron has designed the Anchor FPU as an all-electric facility. This configuration minim