Chevron signs agreement with Equatorial Guinea for offshore block
Chevron has signed a production-sharing agreement with the government of Equatorial Guinea for Block EG09, located in the Douala Basin on the border of Cameroon. The agreement grants Chevron 80% ownership with the national oil company of Equatorial Guinea GEPetrol holding the remaining 20%. Block EG09 was awarded to Noble Energy and GEPetrol during the country’s 2019 bid licensing round; Noble Energy was later taken over by Chevron (transaction completed in October 2020 for US$13bn).
In February 2021, Chevron achieved first gas flow from the Alen gas monetisation project. The project consists of a 70 km pipeline with a capacity of 950 mcf/d (9.8 bcm/year) that allows gas from the Alen field, located in the Douala Basin offshore Equatorial Guinea, to be processed through onshore existing facilities.
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