ABUJA (Reuters) - U.S. energy firm Chevron is selling three more Nigerian oil blocks, the company said on Tuesday, taking to five the number of assets it is selling in Africa's biggest oil producer.
Chevron is selling its 40 percent stake in OML 52, 53 and 55 in the Niger Delta, the company said in a statement, after announcing the sale of the same stake in OML 83 and OML 85 last week.
The sale will be handled by French Bank BNP Paribas, oil and banking sources told Reuters. The bank did not immediately respond to request for comment.
Chevron said it would prefer to sell to local Nigerian companies, which would fall in line with government regulations on boosting local ownership of its oil.
First Hydrocarbon Nigeria, which has partnered with London-listed Afren on previous Nigeria deals, has already expressed interest in at least one block, oil sources said.
Chevron's share of the five blocks would amount to reserves of around 200-250 million barrels of combined crude oil and condensate, two oil industry sources told Reuters.
It did not disclose the reserves held in the blocks or what it expects to earn from the sales.
Several oil majors have sold assets onshore or in the shallow waters of the Niger Delta in recent years.

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Ops own thoughts
I do not condone kidnapping and piracy and neither do I condone the destruction of the Delta region due to oil exploration but obviously it has become too expensive to safe guard the lives of Chevron workers against MEND.

@Op,what is the estimated price of each oil block?

They are not making it public at this time until after the sale but Shell has already sold eight Niger Delta licences for a total $1.8 billion since 2010. Earlier this week U.S.-based Chevron Corp said it would sell five Nigerian shallow-water oil blocks.

polokor60: @Op,what is the estimated price of each oil block?

biafranqueen: They are not making it public at this time until after the sale but Shell has already sold eight Niger Delta licences for a total $1.8 billion since 2010. Earlier this week U.S.-based Chevron Corp said it would sell five Nigerian shallow-water oil blocks.

Thanks for the info.

polokor60: Thanks for the info.

your very welcome my dear