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Chevron to Auction Off Rights of Offshore Oil Fields in Nigeria

Chevron to Auction Off Rights of Offshore Oil Fields in Nigeria

From ABC News

Chevron Corp. said Tuesday it wants to auction off the rights it has to two offshore oil fields near Nigeria’s coast, the latest foreign oil company moving to divest from the country as regulatory uncertainty looms in the nation.

The company identified the two blocks as shallow-water fields near the coast of Nigeria’s Bayelsa state, which sits in the country’s oil-rich Niger Delta. The company did not disclose what the estimated oil and gas reserves were for the fields, which include the Anyala, Ato North and Madu plays.

Read more at abcnews.go.com