Chevron planning to dump Nigerian assets

U.S. super major Chevron is said to be planning a divestment drive including several of its Nigerian oil and gas assets, as it focuses on growing its U.S. shale output.

Citing banking and industry sources, Reuters said the company is looking for buyers for its onshore and shallow offshore fields, where local producers have expanded their presence.

“The discussions are being held directly with potential buyers, and Chevron is not planning to launch a tender process for the assets at this stage,” the report said, citing two of the sources.

Chevron has not commented on the matter.

Last year, Chevron pumped an average of 194,000 barrels of crude oil, 233 million cubic feet of natural gas and 6,000 barrels of liquefied petroleum gas (LPG) in Nigeria, Kallanish Energy reports.

The company operates and holds a 40% stake in eight concessions in the onshore and near-onshore regions of the Niger Delta, under a joint-venture agreement with state oil company NNPC. Chevron holds several subsidiaries in the African country.

Chevron had planned to acquire 3D seismic data for its OML 140 license and the adjacent OML 132 this year. It’s not clear whether the company will pursue the program.