Gulf of Mexico’s deepwater expansion, part 1: High pressure, high rewards

Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain

The startup of Chevron’s Anchor project represents a technological breakthrough in the deepwater Gulf of Mexico (GOM), unlocking a new production region thanks to equipment designed to handle higher pressures than before. However, while technology is helping offshore operators boost GOM production, there is concern over the possibility of a slowdown in new projects being sanctioned over the longer term. Chevron announced it had brought Anchor online in mid-August, marking the introduction of technology rated to operate at pressures of up to 20,000psi. Anchor is targeting high-pressure reservoirs at depths of up to 34,000ft below sea level and has a production capacity of 75,000b/d of oil and