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OKLAHOMA CITY (

TheStreet

) --

Devon Energy

(DVN) - Get Devon Energy Corporation Report

is mulling the sale of a 5.6% stake in an Azerbaijan oil field that may fetch as much as $3 billion, a report says.

China's

Cnooc

(CEO) - Get CNOOC Ltd. Report

and

China Petroleum & Chemical

(SNP) - Get China Petroleum & Chemical Corp. Report

, which is known as Sinopec, are said to be bidding for this stake,

Bloomberg

reports, citing two sources familiar with the matter.

Other bidders include Japan's

TheStreet Recommends

Itochu

and

Inpex

, several sources told

Bloomberg

.

The interest from the Chinese companies reflects China's "big appetite for oil assets worldwide," Hirofumi Kawachi, an analyst at Mizuho Investors Securities in Tokyo, told

Bloomberg

. "The U.S. is gradually shifting investment to unconventional energy sources, such as shale gas reserves at home."

China already has made $18 billion worth of energy acquisitions since December 2008,

Bloomberg

notes.

Existing partners in the Azeri-Chirag-Gunashli field, which include among others

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

,

Chevron

(CVX) - Get Chevron Corporation Report

and

BP

(BP) - Get BP Plc Report

, have a right of first refusal to buy Devon's stake, the sources told

Bloomberg

.

A Devon spokesman declined to comment for

Bloomberg

.

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