U.S. oil and gas company Chevron Corp said on Monday it has agreed to sell its three gas producing fields in Bangladesh to Chinese firm Himalaya Energy, as part of a plan to raise billions of dollars by shedding non-core properties this year.
"The agreement is for the sale of Chevron's Bangladesh companies, which hold our interests in Bangladesh," a company spokesman told Reuters, declining to share the deal value or any timeline.
The spokesman said Himalaya Energy is owned by a consortium of China ZhenHua Oil and CNIC Corp Ltd. ZhenHua is a state-owned oil company while CNIC is an investment corporation established in Hong Kong.
Reuters reported in February that ZhenHua Oil had signed a preliminary deal with Chevron to buy the U.S. oil major's natural gas fields in Bangladesh that are worth about $2 billion.
(Published by Reuters - April 24, 2017)