JamzNG Latest News, Gist, Entertainment in Nigeria
Noble Energy EG Ltd. (a Chevron company) said Chevron has made the final investment decision (FID) on the Aseng gas monetization project in Equatorial Guinea.
The FID follows the execution of the relevant agreements and is awaiting final regulatory approvals.
Speaking on the FID, President and CEO of Chevron Nigeria and Central Africa Region, Jim Swartz, noted that the agreements and the FID were made possible by the signing of an agreement in September 2025 with the Government of Equatorial Guinea confirming competitive fiscal and fiscal terms to enable the project.
He explained that the scope of the project includes the development of gas resources in the Aseng field, Georgia, through existing midstream infrastructure and has the potential to support the supply of liquefied natural gas from Equatorial Guinea to global markets until the mid-2030s.
“The project also enables further investment in the Chevron-operated Block O Alen field, the cross-border Yoyo-Yolanda field, and in exploration activities in blocks acquired by Chevron in 2024,” he added.
Jim highlighted that, with a nearly three-decade presence in Equatorial Guinea, Chevron is committed to supporting the country in the development of its energy resources and looks forward to working together with its partners on 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 has an unmanaged interest in the Alba PSC and the Alba plant. In 2024, Chevron signed agreements with the government of Equatorial Guinea to incorporate the EG-06 and EG-11 exploration blocks into its portfolio in the country.
