Chevron celebrates first oil from USA’s Anchor field

HOUSTON, August 12, 2024 – Chevron and TotalEnergies have reached first oil and gas at the Anchor field in the US Gulf of Mexico using breakthrough deepwater technology, the companies announced on Monday.

The milestone at the USD 5.7-billion project marks the successful delivery of high-pressure technology rated to safely operate at up to 20,000 psi (1,380 bar), with reservoir depths reaching 10,360 metres (34,000 feet) below sea level.

The pressure is one-third higher than any drilled in previously.

Two days after the announcement, Reuters cited an analyst as saying that worldwide, the new high-pressure drilling technology could unlock more than 5 billion barrels of known oil and gas globally.

The Gulf of Mexico is home to extensive high-pressure, high-temperature (HPHT) reservoirs. Other countries with similar reservoirs include Brazil, Angola and Nigeria.

The Anchor project deployed technologies from NOV and Dril-Quip along with Transocean drillships.

The 440-million-boe field, located off the coast of Louisiana in water depths of 1,524 metres, is operated by Chevron with a 62.86% stake, working alongside TotalEnergies, which holds 37.14%.

Oil and gas are being delivered through a floating production unit with a daily gross capacity of 75,000 bopd and 793,000 cubic metres (28 mcf) of natural gas. The project envisions seven wells being tied into the FPU.

“The Anchor project represents a breakthrough for the energy industry,” said Nigel Hearne, executive vice-president of Chevron Oil, Products & Gas.

“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.”

Photo courtesy of TotalEnergies.

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