Chevron Achieves Significant Milestone with Anchor Project in the Gulf of Mexico
Chevron Corporation has marked a significant milestone with the commencement of oil and natural gas production at its Anchor field, located in the deepwater regions of the U.S. Gulf of Mexico. This achievement underscores Chevron’s commitment to advancing deepwater exploration and production technologies, which are crucial for unlocking hard-to-access resources.
**Innovative Deepwater Technology**
The Anchor project introduces an industry-first in deepwater high-pressure technology, capable of operating safely at pressures of up to 20,000 pounds per square inch (psi). This unprecedented capability allows Chevron to explore reservoirs extending 34,000 feet below sea level, a feat previously unattainable. The reservoir depths and pressures are far greater than those encountered in previous projects, showcasing the advanced technological capabilities deployed by Chevron.
**Production Capacity and Operations**
The Anchor floating production unit (FPU), located approximately 225 kilometers off the Louisiana coast, has a design capacity of producing 75,000 barrels of oil per day and 28 million cubic feet of natural gas per day. This FPU is designed to minimize greenhouse gas emissions through its all-electric configuration, utilizing electric motors and electronic controls along with waste heat and vapor recovery technologies. The facility also leverages existing pipeline infrastructure to transport oil and natural gas directly to U.S. Gulf Coast markets, ensuring efficient and sustainable operations.
**Operational Details and Partnerships**
Chevron operates the Anchor project with a 62.86% stake, working in partnership with TotalEnergies, which holds the remaining 37.14% interest. The project involves seven subsea wells tied into the Anchor FPU, situated in the Green Canyon area at water depths of approximately 5,000 feet. The total potentially recoverable resources from the Anchor field are estimated to be up to 440 million barrels of oil equivalent (MMboe).
**Economic and Environmental Impact**
The Anchor project represents a major breakthrough