Chevron announced first oil from its Anchor project in the Gulf of Mexico on Aug. 12. It was the first production from any of the region鈥檚 super high-pressure formations at 20,000 lb psi. Heralded as a breakthrough, the company announced that its new technology would release 2 Bbbl of GoM oil that had been unreachable with older technology.

How will that 2 billion in production happen? How long before 20,000 psi production ramps up, and what will it look like in 2030? It鈥檚 likely that other related technologies will play a part, as BP and others are also working to reach those plays. Chevron and Wood Mackenzie provide some insight into how this may play out.

Anchor deepwater project. (Source: Chevron)

Chevron announced first oil from its Anchor project in the Gulf of Mexico on Aug. 12. It was the first production from any of the region’s super high-pressure formations at 20,000 lb psi. Heralded as a breakthrough, the company announced that its new technology would release 2 Bbbl of GoM oil that had been unreachable with older technology.

How will that 2 billion in production happen? How long before 20,000 psi production ramps up, and what will it look like in 2030? It’s likely that other related technologies will play a part, as BP and others are also working to reach those plays. Chevron and Wood Mackenzie provide some insight into how this may play out.

Anchor deepwater project. (Source: Chevron)