XCL, which is primarily engaged in the exploration and production of oil and gas in China, is selling its 24.5% stake in the Zhao Dong block, a shallow-water oilfield in northern China's Bohai Bay.
US producer Apache holds another 24.5% of the block, which could also be sold, said the source, who asked not to be identified.
The remaining 51% in Zhao Dong is held by China National Petroleum Corporation, through a unit known as CNODC.
The
