Chevron has launched a sale process for its oil and gas assets in Congo as the US energy giant continues to focus operations on newer and more profitable production, industry sources have told Reuters.
The Congo assets could fetch up to $1.5 billion, according to two sources close to the process. Chevron received bids for the assets this week, one source said.
“Chevron does not comment on rumours or speculations about its commercial activity, including potential acquisitions, or divestitures, which is in a constant state of review,” the company said in a statement.
Chevron’s production in Congo fell by around 40 per cent from 2019 to 31,000 barrels of oil equivalent per day (boed) last year.
(ThisDay)