By Samuel Ogude
Chevron’s company- Noble Energy EG Ltd. with its co-venturers, and the government of Equatorial Guinea have signed agreements for Aseng Gas Monetization project. This was known in a press statement signed by the organization’s Chief Corporate Affairs Officer ,Chevron Nigeria and Mid-Africa Region, Olusoga Oduselu and made available to newsmen recently.
According to the statement, the execution of the agreements is subject to relevant approvals and is a critical milestone towards the approval and implementation of the project.
Speaking on the agreement, Jim Swartz, Chairman and Managing Director, Chevron Nigeria and Mid-Africa region, said, the milestone was made possible by the signing of a deal in September 2025 with the government of EG confirming the competitive fiscal and tax terms to enable the project.
According to him, the Project’s 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 EG to global markets into the mid-2030s. His words:” 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,”.
Jim said, with the 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.
At present, Chevron operates Block O and Block I and holds a non-operated interest in the Alba PSC and Alba Plant. According to him, in 2024, Chevron signed agreements with the government of Equatorial Guinea to incorporate exploration blocks EG-06 and EG-11 into its portfolio in Equatorial Guinea.