TotalEnergies has announced the commencement of production from the Anchor field, located in the U.S. Gulf of Mexico, where the company holds a 37.14% stake alongside operator Chevron, which holds 62.86%.
Situated 225 kilometers off the coast of Louisiana, the Anchor project was launched in December 2019 and features a network of subsea wells connected to a semi-submersible floating production unit (FPU). This FPU has a production capacity of 75,000 barrels of oil per day and 28 million cubic feet of gas per day. At its peak, Anchor is expected to contribute nearly 30,000 barrels of oil equivalent per day (boe/d) net to TotalEnergies. The Anchor FPU is designed to minimize greenhouse gas emissions through an all-electric setup, featuring electric motors, electronic controls, and waste heat and vapor recovery technologies.
“The start-up of Anchor marks a significant milestone in the expansion of TotalEnergies’ integrated energy model in the U.S., combining the development of oil projects with strong price leverage, low emissions intensity, and growth in Integrated LNG and Integrated Power,” said Nicolas Terraz, President of Exploration & Production at TotalEnergies. “Delivered safely, on time, and within budget, this project will support the company’s free cash flow growth trajectory.”
TotalEnergies in the United States
TotalEnergies is implementing its integrated energy model across the U.S., where it has been active since 1957. With over 10 million tons of output in 2023, TotalEnergies is the leading exporter of U.S. LNG and plans to increase its capacity to 15 million tons per year following the start-up of the Rio Grande LNG plant in South Texas. The company is integrated throughout the LNG value chain, with upstream gas production assets in Texas and offshore in the Gulf of Mexico. The U.S. is also a key market for the deployment of TotalEnergies’ Integrated Power strategy, with 25 GW of renewable projects and flexible generation assets, as well as a power trading hub in Houston.
