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| Jim Swartz. |
Malabo, Equatorial Guinea. March 31, 2026: Noble Energy EG Ltd. (a Chevron company) confirms that Chevron has taken Final Investment Decision (FID) on the Aseng Gas Monetization Project in Equatorial Guinea. The FID follows the execution of relevant agreements and is pending final regulatory approvals.
Speaking on the FID, Jim Swartz, Chairman and Managing Director, Chevron
Nigeria and Mid-Africa region, noted that the agreements and FID were made
possible by the signing of a deal in September 2025 with the government of
Equatorial Guinea confirming the competitive fiscal and tax terms to enable the
Project.
He explained that the Project scope includes developing gas resources in
the Aseng Field, EG, through existing midstream infrastructure and has the
potential to sustain the supply of Liquefied Natural Gas 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.
Jim noted that with a presence of nearly three decades in Equatorial
Guinea, Chevron is committed to supporting the country in developing its energy
resources and looks forward to working together with its partners in the Aseng
project, which is critical to supporting 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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