The top executive of independent oil and gas producer Devon Energy Corp. (DVN) said Monday that the sale of stakes in some of its Gulf of Mexico assets will be complete next year and that the major oil companies are likely to be the main bidders.

"Given the magnitude of the offshore play, the deepwater and the lower tertiary, obviously small companies are not going to be the primary bidders," Devon Chief Executive Larry Nichols said in a meeting with journalists. Nichols' comment came in response to a question about whether oil majors like Exxon Mobil Corp. (XOM) or Chevron Corp. (CVX) might bid.

The company's showroom has received a "robust" interest from international and national oil companies, Nichols said.

"The data room is still open and all the normal companies that you will expect to be there have shown interest," he said. The data room holds all the significant information about the fields.

The executive added that the company isn't in talks that would lead to closing deals with "anybody," including Chinese oil companies. "I have no idea where that came from. We have received interest from all kinds of companies, but we have not identified who they are," Nichols said.

There have been recent reports that China's Cnooc Ltd. (CEO) was in talks with Norway's StatoilHydro ASA (STO), and that it is also looking at Devon's auction of stakes in its Lower Tertiary plays.

The U.S. Gulf of Mexico has some of the most plentiful oil reserves in the world. The Chinese are interested because they are having difficulties getting access to other regions.

Devon expects to finish the selling process next year, and that it is unlikely that the company will receive any bids until it has announced the results of its Kaskida discovery well this year, Nichols said.

Devon's CEO said in a May earnings call that the company will sell stakes in its four oil discoveries in deepwater Gulf of Mexico: Kaskida, St. Malo, Jack and Cascade. They have stakes in each field, all of which are thought to be major discoveries.

-By Isabel Ordonez and Susan Daker, Dow Jones Newswires; 713 547-9207; isabel.ordonez@dowjones.com