Chevron ‘to sell more Nigeria blocks’

Chevron_Logo18 June 2013, News Wires – Chevron is reportedly putting up for sale interests in three more Nigerian oil blocks, taking to five the number of assets to be auctioned by the US giant in the troubled West African country.

The company intends to dispose of its 40% stakes in OMLs 52, 53 and 55 in the Niger Delta, the company said in a statement cited by Reuters, after announcing the sale of an equivalent stake in OMLs 83 and 85 last week.

The company said it would prefer to sell to local Nigerian companies but did not disclose the reserves held in the blocks or what it expects to earn from the sales.

– Upstream

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