Chevron has made a technological breakthrough by producing first oil from a Gulf of Mexico field under extreme underwater pressure.

The $5.7 billion Anchor project opens an era of production in deepwater areas, which have long remained inaccessible due to the lack of equipment capable of withstanding pressures of up to 20,000 psi.

Chevron and its partner TotalEnergies expect the field to produce for 30 years. At peak production, the floating platform will produce up to 75,000 bpd of oil and 28 million cubic feet per day of natural gas.