Deals
Chevron Said to Join Conoco to Seek Buyers for Indonesian Field
- U.S. energy company may get $1 billion for 25 percent stake
- Sale is part of CEO's plan to unload $15 billion in assets
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Chevron Corp. is seeking buyers for its stake in an Indonesian oil and natural gas field that may fetch about $1 billion, people with knowledge of the matter said.
Chevron, which shares ownership of the field with partners including its smaller U.S. peer ConocoPhillips, wants to divest its 25 percent interest in South Natuna Sea Block B, the people said, asking not to be identified as the information is private. ConocoPhillips, which has a 40 percent stake and is the field’s operator, has already initiated a process to sell its holding, Indonesia’s upstream energy regulator said last month.