Chevron, Equatorial Guinea seal deal on Aseng gas project
Chevron and its partners have signed definitive agreements with the government of Equatorial Guinea to advance the Aseng Gas Monetization Project. The deal, executed by Noble Energy EG Limited and
- By Elo Edremoda, Warri
Chevron and its partners have signed definitive agreements with the government of Equatorial Guinea to advance the Aseng Gas Monetization Project.
The deal, executed by Noble Energy EG Limited and co-venturers, remains subject to regulatory approvals, but represents a major milestone toward the project’s final sanction and implementation.
In a statement on Tuesday, Chairman and Managing Director for Chevron Nigeria and Mid-Africa, Jim Swartz, said the agreement builds on a September 2025 fiscal deal with the Equatorial Guinean government that established competitive tax and fiscal terms for the development.
The statement which was signed by Olusoga Oduselu, Chief Corporate Affairs Officer, Chevron Nigeria and Mid-Africa Region described the project as a key step toward boosting the country’s liquefied natural gas (LNG) output.
According to him, the project will develop gas resources from the Aseng Field using existing midstream infrastructure, with the potential to sustain LNG supply from Equatorial Guinea to global markets into the mid-2030s.
Swartz added that the project could unlock further investments in Chevron-operated assets, including Block O’s Alen Field, the cross-border Yoyo-Yolanda field, and exploration blocks acquired in 2024.
Chevron, which has operated in Equatorial Guinea for nearly 30 years, said the initiative aligned with its commitment to supporting the country’s energy sector development.
The company currently operates Block O and Block I, holds a non-operated interest in the Alba production-sharing contract and plant, and recently expanded its footprint with the addition of exploration blocks EG-06 and EG-11.
