Chevron is looking to sell its stakes in three oil and gas fields in Equatorial Guinea, hoping a recent rally in energy prices will help attract buyers.
The U.S. company acquired the assets in the west African country as part of the $13 billion acquisition of Noble Energy in 2020.
Chevron has hired investment bank Jefferies to run the sale process which could raise as much as $1 billion, the sources said.
The decision to sell the Equatorial Guinea assets comes as Chevron focuses on its most profitable production hubs including the U.S. Permian shale basin and Kazakhstan, the sources said.
Source: Reuters
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