00:00The Yo-Yo Yolanda project is taking shape.
00:06Cameroon and Equatorial Guinea officially signed an operating agreement
00:10for the joint extraction of gas from the Yo-Yo Yolanda gas field,
00:14which struttles the two countries' territorial waters.
00:18Cameroon and Equatorial Guinea already signed a bilateral treaty for the project in 2023.
00:25But the operating agreement now makes the project more concrete
00:28and reinforces the two countries' economic cooperation.
00:33The American oil and gas giant Chevron has also reaffirmed its full commitment to the project.
00:40The company's local branches will be responsible for the technological implementation of gas extraction.
00:47While the two countries will jointly extract gas from the offshore field,
00:51its resources are not equally distributed.
00:54Most of the field is situated in Cameroonian waters,
00:59which has led to Cameroon obtaining 84 percent of the contract,
01:03while Equatorial Guinea holds 12 percent.
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