**Chevron Achieves Milestone in Deepwater Oil Production With Anchor Field Startup**
In a significant achievement for the oil and gas industry, Chevron Corporation has successfully initiated oil and natural gas production from the Anchor field, located in the deepwater U.S. Gulf of Mexico. This milestone marks the successful deployment of high-pressure technology that can operate safely at up to 20,000 psi, with reservoir depths reaching a staggering 34,000 feet below sea level.
The Anchor field development, launched in December 2019, involves a semi-submersible floating production unit (FPU) with a production capacity of 75,000 barrels per day of oil and 28 million cubic feet per day of natural gas. The FPU is connected to seven subsea wells situated in the Green Canyon area, approximately 225 kilometers off the coast of Louisiana in water depths of approximately 5,000 feet.
“This project represents a breakthrough for the energy industry,” stated Nigel Hearne, executive vice president of Chevron Oil, Products & Gas. “The application of this industry-first deepwater technology allows us to unlock previously difficult-to-access resources, enabling similar deepwater high-pressure developments in the industry.” The Anchor field is estimated to contain up to 440 million barrels of oil equivalent, potentially contributing significantly to global energy supplies.
The Anchor FPU has been designed with sustainability in mind; it is an all-electric facility, employing electric motors and electronic controls to reduce greenhouse gas emissions. Additionally, the FPU utilizes waste heat and vapor recovery technologies, along with existing pipeline infrastructure, to transport oil and natural gas directly to U.S. Gulf Coast markets.
Chevron is the operator of the Anchor field, owning a 62.86% working interest. TotalEnergies E&P USA holds the remaining 37.14%. The successful startup of the Anchor project demonstrates Chevron’s ability to deliver complex projects safely and within budget, providing affordable and reliable low-carbon intensity oil and natural gas to meet energy demands