Chevron and the government of Equatorial Guinea have formalised agreements to move forward with the Aseng Gas Monetization Project, marking a significant step in the country’s gas development plans.

The deal, signed by Noble Energy EG Limited and its partners, is still awaiting regulatory approvals but signals progress toward the project’s final investment decision.

According to Jim Swartz, the agreement builds on an earlier fiscal arrangement reached in September 2025, which set favourable tax and regulatory terms to support the project’s execution.

Chevron noted that the development will focus on harnessing gas from the Aseng Field using existing infrastructure. The project is expected to strengthen the country’s liquefied natural gas (LNG) output and help sustain supply to international markets into the mid-2030s.

Swartz also indicated that the initiative could encourage additional investments across Chevron’s operated assets, including the Alen Field in Block O, the Yoyo-Yolanda cross-border field, and newly acquired exploration blocks.

With nearly three decades of operations in Equatorial Guinea, Chevron said the project reflects its continued commitment to supporting the growth of the country’s energy sector.

The company currently operates key assets in Blocks O and I and maintains interests in other production and exploration ventures across the region.