Chevron Optimistic On Neutral Zone, But Not Till 2017

Chevron is optimistic that production at the Wafra field in Saudi Arabia and Kuwait’s shared Neutral Zone will resume by 2017. However, cost cutting measures in the face of sustained low oil prices threaten further delays to planned steamflood injection at the field.

Chevron CEO John Watson says that he expects production in the Partitioned Neutral Zone between Kuwait and Saudi Arabia “to come back by 2017.”

Production has been halted since May 2015 at the 200,000 b/d capacity Wafra field, which Saudi Arabia Chevron operates on behalf of Saudi Arabia in partnership with Kuwait. Work at the field was halted due to “difficulties in securing work permits and materials [that] have impacted the company’s operations” Chevron said at the time. (CONTINUED - 684 WORDS)