Anchor is a conventional oil development located in ultra-deepwater in the US and is operated by Chevron USA. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Anchor was discovered in 2015, lies in block Green Canyon 807, with water depth of around 5,183 feet. Buy the profile here.

The project is currently in commissioning 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 Chevron and TotalEnergies.

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 74,706 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 441.64 Mmboe, comprised of 415.64 Mmbbl of crude oil & condensate and 156.03 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, Oceaneering International, Subsea 7, Keppel and Oliver Valves

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.

For more details on the Anchor Conventional Oil Field, buy the profile here.


GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.