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Tuesday, July 18, 2017
The governments of Equatorial Guinea and Cameroon have officially agreed that two gas discoveries spanning the maritime border between the two countries make up a single resource pool. Since it is a single resource pool the two nations have agreed to jointly develop the gas condensate discoveries.
The Yolanda gas discovery in Equatorial Guinea’s Block I lies directly across the border from the Yoyo gas discovery in Cameroon’s Yoyo Block. Both fields were found in 2007 and the blocks are operated by Noble Energy EG Ltd. and Noble Energy Cameroon Ltd. A MoU signed on July 10by the two governments recognizes the Yoyo-Yolanda gas condensate field as one resource and allows for the joint development of the gas field.
“We have a proud history of developing our resources quickly and efficiently, and the signing of this agreement is another demonstration of that,” said H.E. Minister of Mines and Hydrocarbons of Equatorial Guinea Gabriel Mbaga Obiang Lima. “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.”
In October 2016 the governments of Equatorial Guinea and Cameroon announced they had entered a data exchange agreement covering the Yoyo and Yolanda discoveries. The next step following the signing of the July 10 MoU is to begin talks on the unitization of the Yoyo-Yolanda gas field.
Yolanda is located in 896 meters of water approximately 50 km east of Bioko Island. The initial I-3 well was drilled in 2007 to a total depth of 2,890 meters and tested with flow rates of 371 bpd condensate and 36 mcf/d natural gas. Yoyo, situated to the east of Yolanda across the Cameroon border, is located in 528 meters water depth. The YoYo-1 well (also drilled in 2007) tested with flow rates of 330 bpd condensate and 31 mcf/d gas. Equatorial Guinea’s Block I contains the Aseng oil and gas condensate field, which has been producing since 2011.
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