KUWAIT

Chevron is optimistic that production at the Wafra field in Saudi Arabia and Kuwaitís 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...