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Report: Former Chevron executive seeking $500M for projects in Latin America

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Report: Former Chevron executive seeking $500M for projects in Latin America

Oil and gas company Amos Global Energy LLC, launched by Chevron Corp.'s former chief for Latin American operations, Ali Moshiri, will start a roadshow next month to raise $500 million to enter Venezuela after the U.S. eventually lifts sanctions against the country, Reuters reported Oct. 21.

The company is looking for five investors to bring in $100 million each, according to the report.

Moshiri is also seeking assets in Mexico and Argentina despite the stall in energy investments in the two countries this year, the report said.

The company is looking to farm-in to an existing project or acquire assets in the Chicontepec basin in Mexico.

Moshiri said a financial partner is ready to contribute $500 million upon Amos Global finding the right projects.

Amos Global's other co-founders include former Chevron executive Noel Avocato and former Citigroup, Lloyds Bank and Morgan Stanley banker Chris Hasty, according to Reuters.