Jones Day acts for Chevron in Colombia upstream assets sale

Law firm Jones Day has represented Chevron Petroleum Company, a subsidiary of Chevron Corporation, in its sale of its 43 per cent interest in the association contract and related rights and assets, pursuant to which Chevron operates certain upstream natural gas assets in Colombia’s Chuchupa natural gas field and Ballena fields to Hocol, a subsidiary of state-owned Ecopetrol.

Ecopetrol currently owns the remaining 57 per cent of the Chuchupa and Ballena fields. Following the closing of the transaction, Hocol will replace Chevron as the operator.

Jones Day’s team advising Chevron Petroleum Company was led by Jeff Schlegel (pictured), David Stringer, and Nicholas Rodriguez.