According to Bloomberg, the company has appointed advisers including Rothschild and Co, Goldman Sachs and Morgan Stanley, to help consider its options.
It has also been reported that any deal for the company could be valued at around $15bn (£10.8bn).
Bloomberg also reported that discussions are still at a very early stage and that there is no guarantee that any deal will come to fruition. It is also suggested that the group could also alternatively explore launching an IPO.
The EG Group currently operates more than 6,000 petrol station sites across the world.
Earlier this year the EG Group was forced to sell off 27 of its 395 EG Group petrol filling stations in the UK in a bid to close its £6.8bn takeover of Asda.
Now the body has accepted the terms of the pair’s offer to sell 27 of Asda’s petrol sites – which they acquired in a separate £750m deal.