Chevron confirmed its commitment to developing the Yoyo-Yolanda natural gas project. The field straddles the offshore border between Cameroon and Equatorial Guinea.
The two African nations signed a legal contract to merge their independent production leases. This creates a single unit for joint development of the field.
The project holds an estimated 2.5 trillion cubic feet of natural gas reserves.
Developing Yoyo-Yolanda is central to Chevron's long-term strategy. The company seeks to bolster its Liquefied Natural Gas (LNG) supply.
Chevron plans to utilize existing infrastructure in the region. The commitment reinforces the company's focus on significant energy projects in West Africa.