Chevron, through Noble Energy EG Ltd, has announced a Final Investment Decision (FID) on the Aseng Gas Monetisation Project in Equatorial Guinea.
The FID follows the signing of key agreements and is still subject to final regulatory approvals.
According to Jim Swartz, Chairman and Managing Director for Chevron Nigeria and the Mid-Africa region, the decision was enabled by an agreement reached in September 2025 with the Government of Equatorial Guinea, which established competitive fiscal and tax terms for the project.
He explained that the project will develop gas resources from the Aseng Field using existing midstream infrastructure, with the aim of sustaining liquefied natural gas (LNG) exports from Equatorial Guinea into the mid-2030s.
The project is also expected to unlock further investment opportunities in Chevron-operated Block O Alen Field, the cross-border Yoyo-Yolanda Field, and additional exploration activities in blocks acquired in 2024.
Swartz noted that Chevron’s nearly three-decade presence in Equatorial Guinea reflects its long-term commitment to supporting the country’s energy development and expanding its upstream portfolio.
Chevron currently operates Block O and Block I and holds a non-operated stake in the Alba Production Sharing Contract (PSC) and Alba Plant. In 2024, the company also signed agreements to include exploration blocks EG-06 and EG-11 in its portfolio within Equatorial Guinea.