Chevron Corporation, an American multinational energy corporation\u00a0has achieved a technological breakthrough, producing first oil from a U.S. Gulf of Mexico field under extreme subsea pressures, the energy company said on Monday.<\/p>\n
Its $5.7-billion project, called Anchor, ushers in an era of production from deep-water areas that had long been off-limits, because of the lack of equipment able to cope with pressures of up to 20,000 pounds per square inch.<\/p>\n
Chevron and partner TotalEnergies expect the Anchor development to produce for 30 years.<\/p>\n
At its peak, the floating platform will pump up to 75,000 barrels of oil and 28 million cubic feet of natural gas a day. The field is about 140 miles (225 km) off the coast of Louisiana.<\/p>\n
“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,”<\/em> said Chevron Executive Vice President Nigel Hearne.<\/p>\n Another U.S. oil company, Beacon Offshore Energy, aims to replicate Chevron’s 20,000-psi feat at its Shenandoah deepwater field, also off the coast of Louisiana. That project has been delayed, with first oil expected in the second quarter of 2025.<\/p>\n BP discovered the Gulf of Mexico\u2019s first 20,000-psi field, called Kaskida, in 2006, but the subsea technologies of the time did not allow development. Until now, subsea technologies have largely been capped at pressures of 15,000 psi.<\/p>\n But last month, BP greenlit development of the field, citing new developments. It plans to leverage subsea equipment designs and achieve first Kaskida oil production in 2029.<\/p>\n Chevron’s development will have seven subsea wells tied to the Anchor floating production platform. The subsea field is estimated to hold up to 440 million barrels of recoverable oil and gas.<\/p>\n “This Anchor milestone demonstrates Chevron’s ability to safely deliver projects within budget in the Gulf of Mexico,” <\/em>said Bruce Niemeyer, head of Chevron’s Americas oil and gas production.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Chevron Corporation, an American multinational energy corporation\u00a0has achieved a technological breakthrough, producing first oil from a U.S. Gulf of Mexico field under extreme subsea pressures, the energy company said on Monday. Its $5.7-billion project, called Anchor, ushers in an era of production from deep-water areas that had long been off-limits, because of the lack of […]<\/p>\n","protected":false},"author":27,"featured_media":43056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173,249],"tags":[],"class_list":["post-43055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/43055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=43055"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/43055\/revisions"}],"predecessor-version":[{"id":43057,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/43055\/revisions\/43057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/43056"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=43055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=43055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=43055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}