MANILA (Reuters – Rodrigo Duterte’s close friend and tycoon, is contemplating selling businesses that collectively amount to several billion dollars. These include a South China Sea oil field and a lease business at the location of a former U.S. base.

Dennis Uy (chairman of Udenna Corp conglomerates and listed Chelsea Logistics) has experienced rapid growth and diversification in his business empire since Duterte took office.

Sources tell Reuters that he’s considering selling the Malampaya gasfield and Clark Global City. They declined to identify themselves as they weren’t authorized to talk to the media.

According to them, buyers were looking for prospects in Uy’s other businesses such as Phoenix Petroleum, an oil retailer, and DITO (his new telecom company), plus the schools and food business he runs.

Uy representatives did not respond immediately to inquiries for comment.