UPDATE 1-Noble Energy plans to sell China oilfield stake - source

(Changes sourcing, adds background)

Feb 21 (Reuters) - Noble Energy Inc NBL.N has hired investment bank Lazard Ltd LAZ.N to help arrange the sale of its majority stake in a small oilfield that it owns with Sinopec

600028.SS off northeastern China, a person familiar with the situation said.

The Wall Street Journal reported earlier that Houston-based Noble could raise between $200 million and $300 million by selling its 57 percent stake in the Chengdaoxi field. ( Href="Link">http://link.reuters.com/ges96v)

State-controlled China Petroleum & Chemical Corp, known as Sinopec, holds the remaining stake in the field, which is classified as an onshore project because it is in waters less than 5 meters (16 feet) deep.

The field, which has been pumping oil for decades, produces about 4,000 barrels of crude per day.

Noble Energy and Lazard were unavailable for comment to Reuters outside regular U.S. business hours.

Australian oil and gas producer Roc Oil Co ROC.AX is a among prospective bidders for Noble's holding, the Journal said, adding that the stake had attracted interest from a wide field that included other medium-sized energy companies.

Roc could not be reached by Reuters for comment.

The news of the potential sale comes about two weeks after Noble surprised Wall Street with a weak production forecast and a lower-than-expected quarterly profit. News Search ID:nL2N0LB0JX

Many U.S. oil companies have been divesting overseas assets to raise funds to develop shale projects at home.

Noble agreed earlier in February to sell part of its stake in the huge Leviathan natural gas project in Israel to Australia's Woodside Petroleum Ltd WPL.AX for $1.03 billion in cash and future revenues. News Search ID:nL2N0LB260

Earlier this week, Hong Kong-listed oil trader Brightoil Petroleum Holdings Ltd 0933.HK agreed to buy Anadarko Petroleum Corp's APC.N China unit for $1.08 billion.

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(Reporting by Chris Peters in Bangalore and Charlie Zhu in Hong Kong; Editing by Gopakumar Warrier and Ted Kerr)

((chris.peters1@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6019)(Reuters Messaging: chris.peters1.thomsonreuters.com@reuters.net))

Keywords: NOBLEENERGY CHINAOILFIELD/