Equatorial Guinea and Cameroon have forged an agreement to jointly develop two contiguous offshore Yolanda and Yoyo gas discoveries as a single resource.

The Yolanda gas discovery is located in Block I of Equatorial Guinea waters, directly across the border from the Yoyo Block-located Yoyo gas discovery in Cameroon waters. Block I also contains the Aseng oil and gas condensate field which has been in production since 2011.

Both the Yolanda and Yoyo gas fields were discovered in 2007 with the containing blocks operated by Noble Energy EG and Noble Energy Cameroon.

Located about 50 km east of Bioko Island, in 896mts of water, the Yolanda gas field had its initial I-3 well drilled in 2007 to a total depth of 2,890mts. The well was tested with flow rates of 371 bpd condensate and 36 mcf/d natural gas.

On the other hand, the Yoyo gas field is located in 528mts of water, to the east of Yolanda. Its YoYo-1 well drilled in 2007 tested with flow rates of 330bpd condensate and 31mcf/d gas.

The new agreement to jointly develop the gas fields comes after the October 2016 announcement from the two countries to exchange data to cover the Yoyo and Yolanda discoveries. It is anticipated that Equatorial Guinea and Cameroon will shortly engage in talks on the unitization of the Yoyo-Yolanda offshore gas field.

Equatorial Guinea Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima said: “Our partners in Cameroon share our ambition to rapidly bring the Yoyo-Yolanda field to production and to maximize the value from our nations’ abundant resources. I am excited about a fast track approach on this project.”