Chevron sells Chad, Cameroon interests for ~$1.3B

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX +0.5%) says it has sold its 25% non-operated interest in a producing oil concession and related export pipeline interests to the government of Chad for ~$1.3B.

The deal includes the sale of CVX's interests in seven fields in Chad's Doba Basin, which produced ~18K bbl/day in 2013, and a ~21% non-operated interest in a pipeline system that transports crude oil to Cameroon as well as associated marine facilities.