Chevron announced that the field began producing oil at 20,000 pounds per square inch (PSI), a third higher than previous wells. The agency writes about this Reutres.
The $5.7 billion Anchor project uses specially designed equipment from the NOV, Dril-Quip and Transocean drilling vessels.
Analysts say new drilling technology could enable the extraction of up to 5 billion barrels of previously inaccessible oil. Wood Mackenzie’s Mfon Usoro says projects by Chevron, Beacon Offshore Energy and BP could produce 300,000 barrels of new oil per day, putting 2 billion barrels of oil available in the United States.
Experts believe that extremely high pressure will be the main driver of production growth in the Gulf of Mexico. BP plans to use high-pressure technology to develop 10 billion barrels of known oil.
Rystad Energy analyst Aditya Ravi noted that similar high-pressure, high-temperature areas that could benefit from the new technology are found off the coasts of Brazil, Angola and Nigeria. He estimated that more than 5 billion barrels of the world’s known oil and gas reserves could be developed using the technology.
Last week, the International Energy Agency reportedHe said that global oil supply increased by 230,000 barrels per day to 103.4 million barrels per day in July. This was made possible by increased supply from OPEC+ countries such as Iraq and Saudi Arabia. Oil supply is expected to continue to increase in 2024.
Previously Europe had sharply increased Purchase of pipeline gas from Russia.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.