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Report: Ormat said to eye Chevron's Asian geothermal assets


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Report: Ormat said to eye Chevron's Asian geothermal assets

Ormat TechnologiesInc. is among a handful of companies interested in 's geothermal assets in Asia,Bloomberg reported, citing unnamed sources.

Other potential bidders include China Investment Corp., Malakoff Corp., Energy DevelopmentCorp., Aboitiz Power Corp., MarubeniCorp., Mitsubishi Corp.and PT Medco Power Indonesia, according to the publication.

The portfolio could sell for upward of $3 billion, accordingto Bloomberg. Citigroup is reportedly serving as adviser to Chevron.

Chevron is also looking to sell its share in an Indonesian oiland natural gas field and its stake in its South African business, Bloomberg reportedApril 12. The company has cutits workforce and canceled drilling projects to reduce spending as commodity prices continue to stagnate.