New stage in the development of the Yoyo-Yolanda gas project straddling Equatorial Guinea and Cameroon.
The two countries signed a unitization agreement in Malabo on Tuesday, which, among other things, allows for the exploitation of this shared reservoir according to harmonized rules. Eventually, a processing platform and the drilling of three wells are expected to be established to support the supply of liquefied natural gas to global markets. Back in 2023, the two countries had already signed a bilateral treaty authorizing the joint exploitation of their oil and gas reserves in the Gulf of Guinea, estimated at 2.5 trillion cubic feet, with 84% located on the Equatorial Guinean side and 16% on the Cameroonian side.
Equatorial Guinea possesses estimated gas reserves of 39 billion cubic meters. For the authorities, the development of the Yoyo-Yolanda gas project will strengthen national and regional energy security and stimulate economic growth. All that remains is the operationalization agreement to launch this strategic project.
