YAOUNDE, Feb. 4 — Equatorial Guinea and Cameroon have agreed to jointly exploit gas deposits in the border towns of Yoyo and Yolanda, Cameroon’s Ministry of Mines, Industry and Technological Development said on Wednesday.
The unitization agreement for the Yoyo-Yolanda gas field, a transboundary gas deposit shared between the locality of Yoyo in Cameroon and Yolanda in Equatorial Guinea, was signed on Tuesday in Malabo, the capital of Equatorial Guinea.
While addressing officials at the event, Vice President of Equatorial Guinea Teodoro Nguema Obiang Mangue described the agreement as “historic.”
“The achievements of the signed agreement demonstrate that sincere cooperation is the most direct path to efficient management of shared natural resources,” said the vice president.
The agreement marked a milestone in bilateral relations, establishing a framework of technical and economic cooperation geared toward generating income and creating job opportunities for both countries, he added. (Namibia Daily News / Xinhua)
