Chevron is getting set to sell some Nigerian oilfields to restructure its portfolio and grow its U.S. shale output.
Discussions are on with potential buyers, and Chevron is not planning to launch a tender process, for the assets at this stage.
Chevron’s Nigerian subsidiary holds a 40% interest in 8 blocks in the onshore and near-onshore regions of the Niger Delta, under a joint venture with Nigeria’s National Petroleum Company.
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Last year, the International oil company’s production in Nigeria, increased to 194,000 barrels of crude oil per day, 233 million cubic feet of natural gas per day and 6,000 barrels of liquefied petroleum gas per day.
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