trending Market Intelligence /marketintelligence/en/news-insights/trending/UR6qdP6_abWAZYnjNDz1eg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Chevron reaches final investment decision to develop Anchor project in US Gulf

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Chevron reaches final investment decision to develop Anchor project in US Gulf

Chevron Corp. on Dec. 12 said it reached a final investment decision to sanction the development of its Anchor project in the U.S. Gulf of Mexico.

Chevron said it will need an investment of roughly $5.7 billion for the initial development of the Anchor project, which includes a seven-well subsea and a semisubmersible floating production unit, according to a news release. The corporation expects to produce its first oil in 2024.

"This decision reinforces Chevron's commitment to the deepwater asset class," Chevron Executive Vice President for Upstream Jay Johnson said in the release. "We expect to continue creating value for shareholders by delivering stand-alone development projects and sub-sea tie backs at a competitive cost."

In addition, the facility will have a capacity of 75,000 barrels of crude oil per day and 28 million cubic feet of natural gas per day. Chevron also expects the total potentially recoverable oil-equivalent resources for the project to be over 440 million barrels.

Chevron, through its unit Chevron USA Inc., will serve as the operator and will hold a 62.86% working interest in the project, which will be constructed at the Anchor Field in the Green Canyon area, about 140 miles off the coast of Louisiana. Total E&P USA Inc will hold the remaining 37.14% working interest.