Two Chevron companies, Noble Energy EG Ltd. and Noble Energy Cameroon Ltd (both Chevron companies) have signed unification agreement with Equatorial Guinea and Cameroon on the development of the Yoyo-Yolanda Project
Jim Swartz, Chairman and Managing Director Chevron Nigeria and Mid-Africa Region explained that the Yoyo‑Yolanda Field is a cross‑border offshore gas field shared between Equatorial Guinea and Cameroon, containing an estimated 2.5 TCF of gas in place.
He said:“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 in a statement signed by Olusoga Oduselu, Chief Corporate Affairs Officer, Chevron Nigeria and Mid Africa Region.
On March 18, 2023, the Republic of Equatorial Guinea and the Republic of Cameroon signed a bilateral treaty between the two countries. The agreement paved the way for the joint development of oil and gas reserves at the two countries’ maritime border in the Gulf of Guinea including the Chevron-operated Yoyo and Yolanda fields.