U.S. energy major Chevron has reaffirmed its commitment to developing the Yoyo-Yolanda offshore gas project, which straddles the maritime boundary between Cameroon and Equatorial Guinea, following renewed cooperation between the two countries. The project involves gas reserves estimated at around 2.5 trillion cubic feet and is expected to play a key role in regional energy supply, Reuters reported.
The move follows the signing of a unitisation agreement by the governments of Cameroon and Equatorial Guinea, creating a unified legal and operational framework for the joint development of the transboundary reservoir. The agreement aligns technical, fiscal and contractual terms across both jurisdictions, paving the way for coordinated investment and production planning, officials involved in the process said.
Chevron executive Jim Swartz said the company views the Yoyo-Yolanda development as central to its strategy of leveraging existing infrastructure in the Gulf of Guinea, including nearby processing facilities. He noted that the project could support long-term gas supply while delivering economic benefits to both host countries through revenue generation and local participation.
Zonebourse say the project could strengthen gas availability for domestic use and export, including potential feedstock for liquefied natural gas facilities in Equatorial Guinea. The commitment is also seen as a signal of sustained investor interest in West and Central Africa’s gas resources as countries seek to monetize natural gas amid shifting global energy markets.
