Chevron and TotalEnergies initiate oil and natural gas production from the Anchor HPHT field in the U.S. Gulf of Mexico with a $5.7B investment.

Chevron and TotalEnergies have begun oil and natural gas production from the Anchor project, a deepwater high-pressure high-temperature (HPHT) field in the U.S. Gulf of Mexico. The project, which has a $5.7 billion investment, is the first to successfully handle pressures of up to 20,000 psi. The floating production unit (FPU) has a capacity of 75,000 barrels of oil per day and 28 million cubic feet of natural gas per day. The Anchor project is expected to produce for 30 years, and the technology used could enable similar high-pressure developments in the industry.

August 12, 2024
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