Petroleum Africa
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Wednesday, September 25, 2013
The deadline for buyers interested in Chevron Corp.’s blocks in Nigeria’s Niger Delta is approaching. The US major is offering up its stakes in three Niger Delta blocks and prospective buyers have until September 30 to submit their bids. According to reports several indigenous firms are in the running.
The three blocks are valued between $500 and $600 million.
The assets on the auction block are OML 52, 53, and 55. They will go to one buyer and suitors will have to pay 15% of their bid on the deadline date. Chevron also plans to sell OML 82 and OML 85 in a separate bidding process.
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