Chevron expects to take a final investment decision early next year on its Anchor project in the deep-water US Gulf, it said on Friday, confirming prior Upstream reports.

The US supermajor said it still remains in the front-end engineering and design phase for the development, which is set to be the first deep-water project of its kind to produce from ultra-high temperature, high pressure reservoirs requiring a pressure rating to 20,000 pounds per square inch.

"The technology we're developing to exploit these higher-pressure reservoirs will allow us to target other resource opportunities in the Gulf of Mexico," Upstream executive vice president Jay Johnson told investors on a conference call.