The 22-year-old, with the U's until January, is out of contract at Stamford Bridge in the summer.
"It would be more around what Chelsea want to do," he told BBC Essex.
"I'm having some talks with Chelsea in the next couple of weeks. Once I know what's going on there I will be able to act accordingly."
"I do love my time here. I'm very comfortable here and I'd have no problem playing here for as long as I need to," he said.
"But of course everybody wants to play at the highest level and if something came in I'd have to look at that."
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