Chevron Finalizes Investment in Aseng Gas Project

Chevron has announced a final investment decision (FID) regarding the Aseng gas monetization project in Equatorial Guinea. This decision follows the execution of a relevant agreement, which is pending final regulatory approval.

Jim Swartz, the chairman and managing director of Chevron Nigeria and Mid Africa region, noted that the agreement made it possible to sign a deal in September 2025 with the government of Equatorial Guinea, confirming competitive fiscal tax terms that enable the project. The project scope includes the development of gas resources from the Aseng field and existing midstream infrastructure, with the potential to sustain the supply of liquefied natural gas to the global market by the mid-2030s.

This initiative will facilitate further investments in Chevron's operations in the Block O Alen field and the cross-border Yoyo Yolanda field exploration activities. Chevron has been present in Equatorial Guinea for nearly three decades and is committed to supporting the country's energy resource development.