Chevron confirmed that it will continue developing the Yoyo–Yolanda gas project located along the maritime boundary between Equatorial Guinea and Cameroon. The company shared this update in a statement, highlighting its ongoing role in advancing offshore gas resources that both countries view as important for supply and cooperation.
Equatorial Guinea and Cameroon signed a bilateral agreement in 2023 to jointly develop oil and gas resources in the Gulf of Guinea. The deal covered the Chevron-operated Yoyo and Yolanda fields, which hold about 2.5 trillion cubic feet of gas. The treaty created a framework for collaboration on cross-border resources, reduced the risk of disputes, and encouraged coordinated investment and production.
Jim Swartz, managing director for Chevron Nigeria and the mid-Africa region, said the Yoyo–Yolanda project supports Chevron’s plan to maintain a long-term liquefied natural gas supply while making use of existing facilities at Alen and Punta Europa. He pointed to the connection between the project and infrastructure already handling gas processing and exports in Equatorial Guinea.
Swartz made the remarks after Cameroon and Equatorial Guinea signed a legal agreement that merged their separate leases into one unit for joint development of the field. By combining the licenses, both governments created a single operational structure that streamlines coordination, regulatory oversight, and investment planning as the project progresses.
source: www.cnbcafrica.com
African Energy Council