Chevron reached a final investment decision for the Aseng Gas Monetization Project offshore Equatorial Guinea. The company committed approximately $690 million to the development. The project aims to recover 550 billion cubic feet of natural gas.
This initiative supports the nation’s strategy to expand liquefied natural gas (LNG) output and regional energy infrastructure. Chevron will utilize a tie-back to the existing Alen platform to accelerate production and lower development costs.
The project extends the operational life of the country’s gas export facilities and will supply the Punta Europa LNG plant. Subsea7 secured a contract for subsea installation work following the approval. Installation activities are scheduled to begin in 2026.