TotalEnergies Begins Production at Anchor Field in the Gulf of Mexico

TotalEnergies Begins Production at Anchor Field in the Gulf of Mexico

(IN BRIEF) TotalEnergies has commenced production at the Anchor field in the US Gulf of Mexico, where it holds a 37.14% interest alongside operator Chevron. The project, which began development in December 2019, features subsea wells connected to a semi-submersible floating production unit (FPU) with a capacity of 75,000 barrels of oil per day and 28 million cubic feet of gas per day. TotalEnergies expects to achieve a net output of approximately 30,000 barrels of oil equivalent per day at peak production. The FPU is designed to minimize greenhouse gas emissions through its all-electric configuration. Nicolas Terraz, President of Exploration & Production at TotalEnergies, highlighted the project’s successful delivery and its positive impact on the company’s free cash flow growth trajectory.

(PRESS RELEASE) PARIS, 13-Aug-2024 — /EuropaWire/ — TotalEnergies has announced the commencement of production at the Anchor field in the US Gulf of Mexico, where the company holds a 37.14% interest alongside operator Chevron, which has a 62.86% stake.

Situated 225 kilometers off the coast of Louisiana, the Anchor development project, initiated in December 2019, features a network of subsea wells linked to a semi-submersible floating production unit (FPU). This facility boasts a production capacity of 75,000 barrels of oil per day and 28 million cubic feet of gas per day. At peak production, TotalEnergies expects to achieve a net output of approximately 30,000 barrels of oil equivalent per day (boe/d) from the Anchor field.

Designed with sustainability in mind, the Anchor FPU utilizes an all-electric configuration to minimize greenhouse gas emissions, employing electric motors, advanced electronic controls, and technologies for waste heat and vapor recovery.

Nicolas Terraz, President of Exploration & Production at TotalEnergies, emphasized the significance of this milestone, stating, “The start-up of Anchor marks a pivotal achievement in TotalEnergies’ integrated energy model in the US. This project aligns oil development with low emissions intensity and bolsters our growth in Integrated LNG and Integrated Power. The project has been delivered safely, on schedule, and within budget, contributing positively to the company’s free cash flow growth trajectory.”

This development reflects TotalEnergies’ commitment to advancing energy solutions while prioritizing sustainability and innovation in its operations.

TotalEnergies in the United States

TotalEnergies is deploying its integrated energy model across the United States, where it has been active since 1957. With over 10 Mt of output in 2023, TotalEnergies is the leading exporter of U.S. LNG, and plans to increase its capacity to 15 Mt/y after 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 country for the deployment of TotalEnergies’ Integrated Power strategy – with 25 GW of renewables projects and flexible generation assets, and as a power trading hub in Houston. Find out more about TotalEnergies’ U.S. presence here.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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SOURCE: TotalEnergies