Oil and Gas Production Company Occidental Petroleum is reviewing its options for its assets in the Middle East in an effort to reduce its debt burden.

The company is considering reducing its stakes in oil and gas fields in Oman, where its assets are estimated at more than one billion dollars.

The agency said that the Houston-based company was also considering exiting from other assets in the Middle East, but had not formally requested an expression of interest.

Outside Oman, Occidental operates in both the Emirates and Qatar.

Occidental is trying to sell assets to reduce its $ 40 billion in debt that accumulated after the acquisition of Anadarko Petroleum last year in a $ 38 billion deal, in a failed bet on high prices. Oil.

Occidental shares fell this year amid the worst decline in the oil and gas sector in 40 years, the company cut jobs and cut spending to meet massive debt levels.