While global pandemics and falling oil prices are taking the steam out of upstream capex, one Gulf of Mexico operators is moving forward with its deepwater development plan off the coast of Louisiana.
Offshore magazine reports Chevron has contracted Wood to deliver engineering design for its $5.7 billion Anchor deepwater development in the Gulf of Mexico.
The scope of the project included the preliminary front-end engineering and design and now entails detailed design of Anchor, a wet tree development that will use a semisubmersible floating production unit (semi-FPU).
Anchor is the industry’s first deepwater high-pressure development to achieve a final investment decision. It is in Green Canyon block 807, located about 140 miles offshore Louisiana in more than 4,921 feet of water.
Chevron, through its subsidiary Chevron U.S.A., is the operator of the Anchor oil field with 62.86% stake. Total holds the remaining 37.14% stake through its subsidiary TOTAL E&P USA.