Chevron seeks to sell Equatorial Guinea oil and gas assets

Chevron oil business

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, Reuters reported.

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.