Two Chevron Companies, Noble Energy EG Ltd. and Noble Energy Cameroon Ltd., have reiterated Chevron’s commitment to the development of the Yoyo-Yolanda Project, following the Signing of the unitisation agreement for the project by the Republic of Equatorial Guinea and the Republic of Cameroon.
Chairman and managing director of Chevron Nigeria and the Mid-Africa Region, Jim Swartz, explained that the Yoyo-Yolanda Field is a cross-border offshore gas field shared by Equatorial Guinea and Cameroon, containing an estimated 2.5 TCF of gas in place.
“The Yoyo‑Yolanda project is central to Chevron’s strategy of supporting long-term Liquefied Natural Gas (“LNG”) supply and leveraging existing infrastructure at Alen and Punta Europa,” he stated.
“The agreement enables Chevron and its partners to continue to advance the Yoyo-Yolanda project,” Jim added.
On March 18, 2023, the Republic of Equatorial Guinea and the Republic of Cameroon signed a bilateral treaty. The agreement paved the way for the joint development of oil and gas reserves at the maritime border between the two countries in the Gulf of Guinea, including the Chevron-operated Yoyo and Yolanda fields.
SOURCE: LEADERSHIP NEWS PAPER
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