Chevron achieves first breakthrough in deep-sea oil extraction

American energy company Chevron said today that it has achieved a technological breakthrough by producing the first oil from an American field in the Gulf of Mexico under extreme pressure in the depths of the sea.

The company’s $5.7 billion project, called “Anchor”, inaugurates a new era of deep-water production that has long been out of reach due to the lack of equipment capable of handling pressures of up to 20,000 pounds per square inch.

Chevron and its partner TotalEnergies expect the Anchor project to produce for 30 years.

At its peak production, the floating platform will pump about 75,000 barrels of oil and 28 million cubic feet of natural gas per day. The field is located about 225 kilometers off the coast of the US state of Louisiana.

“This industry-first deepwater technology allows us to access previously inaccessible resources and will enable similar high-pressure deepwater projects in the industry,” said Nigel Hearn, Chevron’s executive vice president.