TotalEnergies has announced the start of oil production from the Anchor field, located 225 km off the coast of Louisiana in the Gulf of Mexico.
The Anchor field began development in December 2019 and is a joint project between TotalEnergies, which holds a 37.14% stake, and Chevron, the operator, which has the remaining 62.86%.
The field features a system of subsea wells connected to a semi-submersible floating production unit (FPU) with a daily capacity of 75,000 barrels of oil and 28 million cubic feet of gas.
At its peak, the Anchor field is expected to produce 30,000 barrels of oil equivalent per day (boe/d) for TotalEnergies.
The Anchor FPU is designed to reduce greenhouse gas emissions, utilizing an all-electric setup with electric motors and electronic controls, waste heat, and vapor recovery technologies.
Nicolas Terraz, President of Exploration & Production at TotalEnergies, highlighted that "the start-up of Anchor marks a significant milestone in TotalEnergies’ strategy in the U.S., combining oil development with low emissions and growth in Integrated LNG and Integrated Power."
Delivered safely, on time, and within budget, this project is expected to contribute to the company’s growth in free cash flow, Terraz added.
TotalEnergies in the U.S.
TotalEnergies has been active in the U.S. since 1957, implementing its integrated energy model. With over 10 million tons of LNG exported in 2023, TotalEnergies is the leading exporter of U.S. LNG and plans to expand its capacity to 15 million tons per year with the launch of the Rio Grande LNG plant in South Texas. The company is also deeply integrated into the LNG value chain, with upstream gas production assets in Texas and the Gulf of Mexico. The U.S. is a key market for TotalEnergies' Integrated Power strategy, featuring 25 GW of renewable energy projects and flexible generation assets, along with a power trading hub in Houston.
About TotalEnergies
TotalEnergies is a global energy company that produces and markets a variety of energy sources, including oil, biofuels, natural gas, green gases, renewables, and electricity. With a workforce of over 100,000, the company is committed to providing energy that is more reliable, affordable, and sustainable.
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