TotalEnergies has initiated production operations at the Anchor field, a significant offshore oil and gas development situated in the US Gulf of Mexico. The company holds a substantial 37.14% interest in the project, with Chevron serving as the operator and holding the remaining 62.86% stake. This strategic move marks a key milestone for TotalEnergies, solidifying its position as a major player in the global energy landscape.

The Anchor project, located 225 kilometers off the coast of Louisiana, was launched in December 2019. It features an advanced system of subsea wells connected to a semi-submersible floating production unit (FPU) with a production capacity of 75,000 barrels of oil 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 for TotalEnergies, marking a significant addition to the company’s portfolio.

The FPU at Anchor is designed with a strong emphasis on sustainability. It utilizes an all-electric configuration with electric motors and electronic controls to enhance operational efficiency. Additionally, the unit incorporates waste heat and vapor recovery technologies to minimize greenhouse gas emissions, reflecting TotalEnergies' commitment to reducing the environmental impact of its operations while maintaining high production standards.

Nicolas Terraz, President of Exploration & Production at TotalEnergies, highlighted the start-up of Anchor as a significant achievement for the company's integrated energy strategy in the U.S. This project exemplifies TotalEnergies' approach of merging oil development with a focus on high price leverage and low emissions intensity, alongside growth in Integrated LNG and Integrated Power. By being delivered safely, on schedule, and within budget, Anchor is set to positively impact TotalEnergies' free cash flow growth. Terraz emphasized that this milestone reflects the company's commitment to enhancing its financial performance while advancing its sustainability objectives.

TotalEnergies, a long-standing player in the U.S. energy market since 1957, is strategically expanding its integrated energy model across the country. As the leading U.S. LNG exporter with a 2023 output of over 10 Mt, the company is poised to further solidify its position through the upcoming commissioning of the Rio Grande LNG plant, which will boost capacity to 15 Mt/y. TotalEnergies' robust presence extends across the entire LNG value chain, encompassing upstream gas production in Texas and the Gulf of Mexico. Moreover, the U.S. serves as a pivotal hub for TotalEnergies' Integrated Power strategy, with a substantial 25 GW renewable energy portfolio, flexible generation assets, and a thriving power trading operation centered in Houston.