Chevron wants to sell OML 52, 53 and 55 to one buyer and suitors will have to pay 15 percent of bids on September 30, three sources close to the deals told Reuters. The firm will sell two other blocks, OML 82 and OML 85, in a separate bidding process.
Chevron is putting its interest in Oil Mining Leases (OMLs) 83 and 85 up for sale. Both blocks, which are expected to be sold in one lot are situated in shallow water offshore Nigeria in Bayelsa State in the Niger Delta, have reserves of 250MMBbls of oil and 500 Bcf of gas.
Chevron acquired OML 83 with its Anyala field and the much larger OML 85 with its Madu field after its acquisition of Texaco. The company holds a 40 per cent interest in each of the two blocks under a joint venture with the Nigerian National Petroleum Corporation (NNPC).