Noble Energy EG Ltd. (a Chevron company) has confirmed that Chevron has taken a Final Investment Decision (FID) on the Aseng Gas Monetization Project in Equatorial Guinea.
The FID follows the execution of relevant agreements and remains subject to final regulatory approvals.
Speaking on the FID, Jim Swartz, Chairman and Managing Director for Chevron Nigeria and the Mid-Africa region, noted that the agreements and decision were made possible by a deal signed in September 2025 with the Government of Equatorial Guinea.
The deal confirmed competitive fiscal and tax terms to enable the project.
He explained that the project scope includes developing gas resources in the Aseng Field through existing midstream infrastructure. It also has the potential to sustain the supply of liquefied natural gas (LNG) from Equatorial Guinea to global markets into the mid-2030s.
“The project also enables further investments in the Chevron-operated Block O Alen Field, the cross-border Yoyo-Yolanda Field, and exploration activities in the blocks acquired by Chevron in 2024,” he added.
Swartz noted that, with nearly three decades of presence in Equatorial Guinea, Chevron remains committed to supporting the country in developing its energy resources. He added that the company looks forward to working with its partners on the Aseng Project, which is critical to the development of Equatorial Guinea’s energy sector.
Chevron currently operates Block O and Block I and holds a non-operated interest in the Alba PSC and Alba Plant. In 2024, Chevron signed agreements with the Government of Equatorial Guinea to incorporate exploration blocks EG-06 and EG-11 into its portfolio in the country.
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