Chevron’s operations in the Saudi-Kuwait Partitioned Neutral Zone (PNZ) stand out as a success story for 2025, with production there growing at the fastest rate since it restarted in 2020. Saudi Arabian Chevron (SAC) represents Saudi Arabia at the onshore portion of the PNZ, holding a 50% stake in Wafra Joint Operations (WJO) alongside Kuwait Gulf Oil Company (KGOC).
The US major’s net production from the PNZ had been relatively flat since 2021. Having averaged 56,000 b/d that year it edged up to 60,000 b/d by 2023 and stayed there in 2024. But it returned to growth last year, increasing each quarter to exit the year at 69,000 b/d (see chart 1) for a full year average of 65,000 b/d. Production remains below pre-shut in levels of around 85,000 b/d net, but the resumption of an upwards trend is notable. (CONTINUED – 827 WORDS)
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