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Chevron gets extension to Saudi agreement

  • Saudi Arabia: Thursday, September 11 - 2008 at 14:38

US-based oil company Chevron Corp has received a 30-year extension to an agreement that allows it to drill for oil and natural gas in the Neutral Zone area shared jointly by Saudi Arabia and Kuwait, Reuters has reported. Under the agreement, which has been extended through February 19, 2039, Saudi Arabian Chevron, a subsidiary of Chevron, will continue to explore for and produce crude oil and natural gas in the Neutral Zone on behalf of Saudi Arabia.

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