Total reaches final investment decision on Anchor oil field

13 December 2019 (Last Updated December 13th, 2019 11:09)

French oil and gas firm Total has reached the final investment decision (FID) to develop the Anchor oil field located in the deepwater US Gulf of Mexico (GoM), off the coast of Louisiana.

French oil and gas firm Total has reached the final investment decision (FID) to develop the Anchor oil field located in the deepwater US Gulf of Mexico (GoM), off the coast of Louisiana.

Total holds a working interest of 37.14% in Anchor field, while Chevron operates the field with 62.86% interest. The company noted that the Anchor oil field will be developed with seven subsea wells connected to a semi-submersible floating production unit (FPU).

The FPU will be operated at a capacity of 75,000 barrels (bbls) of crude oil and 28 million cubic feet (mcf) of gas a day. First oil from the field is slated for 2024.

According to Total, any discoveries that are jointly leased by Total and Chevron could be connected to the Anchor oil field facilities. Additionally, it has started front-end engineering and design (FEED) services for the North Platte discovery located in the US GoM.

The North Platte field comprises four blocks of the Garden Banks area. It is 275km off the coast of Louisiana and is present in approximately 1,300m deepwaters, with thickness exceeding about 1,200m. Total operates the North Platte field with 60% working interest, while Equinor owns the remaining 40% interest in the field.

Total Exploration & Production president Arnaud Breuillac said: “The FID for Anchor and the decision to launch FEED for North Platte are tangible examples of our strategy to increase our footprint in the deepwater Gulf of Mexico.

“The Anchor project benefits from reserves with upsides, allowing for a stand-alone development at a competitive cost. The North Platte project, meanwhile, marks Total’s return to the region as an operator. We’re aiming for a final investment decision in 2021.

“These two high-pressure, 20kpsi projects will help to unlock the potential of the Central Area of the Gulf of Mexico, where Total has a strong presence.”