An international oil company operating in Nigeria, Chevron, has announced its intention to divest its stakes in two shallow water oil blocks in the country.
The company said on Tuesday the two oil blocks, OML 83 and OML 85, held an estimated 200 million barrels of oil and an unknown quantity of natural gas. It, however, said there had been no production yet in the two blocks. “As part of a continuous process of portfolio evaluation and business prioritization, Chevron Nigeria Limited has put forward its interests in two oil mining leases for auction,” a spokesman of
the firm said.
Chevron owns 40 per cent stake in 13 shallow water blocks with the Nigerian National Petroleum Corporation, and also has several deep offshore assets. Its 2012 net daily production in Nigeria averaged
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