Chevron has played a major role in developing the resources of Kuwait and its neighboring area. Gulf Oil Corp., which became part of Chevron in 1984, discovered Kuwait's super-giant Burgan Field in 1938. The discovery helped transform Kuwait into a world-class oil producer. As a 50 percent owner of Kuwait Oil Company, the company was involved in the production operations and management of Kuwait's oil fields.
Under a 1994 agreement with the Kuwait Oil Co., Chevron employees provided technical expertise for the continued development of the Burgan Field. Chevron allowed the agreement to expire in August 2008.
Chevron, the Kuwait Gulf Oil Company and predecessor companies have operated four oil fields in the onshore Partitioned Neutral Zone (PNZ) under an agreement through which Kuwait and Saudi Arabia share petroleum revenues jointly. In 2008, a 60-year operating agreement originally drawn up between the Kingdom of Saudi Arabia and Getty Oil Co. was extended for another 30 years.
Getty Oil Co. became part of Texaco in 1984, and Texaco merged with Chevron in 2001. Kuwait Gulf Oil Company operates Kuwait's 50 percent interest.
In 2004, we celebrated a milestone when the PNZ's operations surpassed 3 billion barrels of production. More recently, we have been testing the feasibility of using steamflooding to increase production from its heavy-oil Eocene reservoirs.
In 1968, we began licensing refinery technology and supplying catalysts to Kuwait National Petroleum Co. refineries.
Updated: May 2009