JOHANNESBURG, South Africa – The presidents of Equatorial Guinea and Cameroon have signed a bilateral treaty that could lead to cross-border cooperations on oil and gas developments.
These could include a joint development of the Chevron-operated Yoyo (in the Douala Basin offshore Cameroon) and Yolanda (offshore Equatorial Guinea) gas fields, which came with the company’s acquisition of Noble Energy in 2020.
Both countries will now seek to progress a unitization agreement of Yolo-Yolanda and the various monetization options.
Other projects that could go forward under the new arrangement could include the New Age-operated Etinde gas field development offshore Cameroon and Equatorial Guinea’s Camen and Diega fields. These could support Equatorial Guinea’s Gas Mega Hub initiative to optimize the development and monetization of stranded offshore gas reserves in regional basins.
Signing of the treaty followed work by an integrated team led by the National Hydrocarbons Corp. of Cameroon and Equatorial Guinea's Ministry of Mines and Hydrocarbons.