Chevron says it continues to develop the Anchor field but is efficiently and strategically pacing it.
The company clarifies that during the year it did not cancel any projects, though it has deferred and has begun "pacing projects not yet under construction." This slow down applies to early phased projects that are not yet sanctioned. Chevron adds that it is focused on completing developments that are already under construction and coming online in the next few years. The same can be said for developments where Chevron is involved but is not the operator.
The Anchor project, scheduled to come online in 2024, consists of seven subsea wells connected to a semi-submersible floating production unit (FPU) with a capacity of 75,000 barrels of crude oil and 28 million cubic feet of gas per day. The field is located in the Green Canyon blocks 762, 807, and 806, about 225 km (140 mi) off the coast and in a water depth of 1,524 m (5,000 ft).