Anchor is a conventional oil development located in ultra-deepwater in the US and is operated by Chevron USA. Discovered in 2015, Anchor lies in block Green Canyon 807, with water depth of around 5,183 feet.

The project is currently in construction stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project was approved in 2019. The development cost is expected to be $5,700 m. The Anchor conventional oil development will involve the drilling of approximately seven wells and includes FPU and subsea trees.

Field participation details

The field is owned by TotalEnergies and Chevron.

Production from Anchor

Production from the Anchor conventional oil development project is expected to begin in 2024 and is forecast to peak in 2027, to approximately 74,954 bpd of crude oil and condensate and 28 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2053.

Remaining recoverable reserves

The field is expected to recover 443.11 Mmboe, comprised of 417.02 Mmbbl of crude oil & condensate and 156.55 bcf of natural gas reserves.

Contractors involved in the Anchor conventional oil field

Some of the key contractors involved in the Anchor project as follows.

Design/FEED Engineering: John Wood Group

Main EPC: Schlumberger and Subsea 7

EPC Contractors: Daewoo Shipbuilding & Marine Engineering

Other Contractors: Aker Solutions, Keppel , Oceaneering International , Oliver Valves and Subsea 7

About Chevron USA

Chevron USA Inc (Chevron) is a Subsidiary of Chevron Corp, is an integrated energy company that explores, extracts, and produces crude oil, natural gas, and natural gas liquids. The company also refines, markets, and distributes products derived from petroleum (diesel, gas, motor oil, fuel and lubricant additives). Chevron is headquartered in San Roman, California, US.


Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.