Chevron Corporation has announced the successful start of oil and natural gas production from its highly anticipated Anchor project in the deepwater U.S. Gulf of Mexico.
This milestone marks a significant breakthrough in offshore energy technology and underscores Chevron’s commitment to innovation in the oil and gas sector.
The Anchor project, located approximately 225.31 kilometres off the coast of Louisiana, utilises groundbreaking high-pressure technology rated to safely operate at up to 20,000 psi, with reservoir depths reaching 10,363.22 metres below sea level.
This industry-first deepwater technology allows Chevron to access previously difficult-to-reach resources and is expected to pave the way for similar high-pressure developments in the future.
The Anchor semisubmersible floating production unit (FPU) boasts a design capacity of 75,000 gross barrels of oil per day and 792,871.7048 gross cubic metres of natural gas per day.
The development consists of seven subsea wells tied into the Anchor FPU, situated in water depths of approximately 1,524 metres.
Chevron estimates that the total potentially recoverable resources from the Anchor field could reach up to 440 million barrels of oil equivalent.
The project is expected to produce for up to 30 years, contributing significantly to the company’s long-term production goals in the Gulf of Mexico.
In line with Chevron’s commitment to reducing carbon emissions, the Anchor FPU was designed as an all-electric facility with electric motors and electronic controls.
The platform also utilises waste heat and vapour recovery units, as well as existing pipeline infrastructure to transport oil and natural gas directly to U.S. Gulf Coast markets, further minimising its environmental impact.
Bruce Niemeyer, President of Chevron Americas Exploration & Production, emphasised the project’s economic benefits, stating: “The Anchor project provides affordable, reliable, lower carbon intensity oil and natural gas to help meet energy demand while boosting economic activity for Gulf Coast communities.”
The success of the Anchor project is expected to have far-reaching implications for the offshore energy industry.
As the first deployment of 20,000-psi technology in deepwater, it opens up new possibilities for accessing previously untapped resources in high-pressure reservoirs.
Chevron, which holds a 62.86 per cent working interest in the Anchor project, sees this as a significant step towards its goal of reaching 300,000 net barrels of oil equivalent per day from its Gulf of Mexico operations by 2026.
As the energy landscape continues to evolve, the Anchor project stands as a testament to Chevron’s innovative approach and its ability to deliver complex projects safely and efficiently, setting new standards for deepwater exploration and production in the process.
