By Anshuman Daga and Saeed Azhar
SINGAPORE (Reuters) - French power and gas group Engie (PA:ENGIE) and Japan's Marubeni (T:8002) are among several suitors preparing to bid for Chevron Corp's (N:CVX) Asian geothermal energy blocks valued at about $3 billion (2 billion pounds), sources familiar with the matter said.
Potential buyers are attracted by the opportunity to gain control of large blocks of geothermal assets located in Indonesia and Philippines, which account for Chevron's Asian geothermal businesses.
Indicative bids are due later this month, said some of the sources involved in the process but who declined to be identified as the information is not public.
Indonesia's Medco Power is planning to bid for the assets, a senior company executive told Reuters. Southeast Asian power firms Aboitiz (PS:AP) and Banpu Power (BK:BAP) may also bid for the assets, said the sources.
Chevron, which hired Citigroup (N:C) as its adviser for the sale, kicked off the auction last month, the sources added.
Chevron, Marubeni, Engie, Citigroup and Aboitiz declined comment. Banpu said it will consider the terms and size of the assets before making a decision.
Medco, which operates two geothermal projects in Indonesia, said it was keen to buy the assets and would consider looking for a partner due to the large value of the assets.
"We have expressed our interest in seeing the data on its asset," said Fazil Alfitri, president director of Medco Power, a subsidiary of Medco Energi Internasional (JK:MEDC).