Page 11 - AfrOil Week 12 2023

AfrOil POLICY AfrOil

The agreement is expected to establish a foun-
dation for the joint development and monet-
isation of fields such as Yoyo, located offshore
Cameroon, and Yolanda, located offshore Equa-
torial Guinea, that lie along the maritime bor-
der between the two countries. Both Yoyo and
Yolanda are operated by the US major Chevron,
and the new treaty will facilitate plans for the
unitisation and joint development of the two
natural gas fields.
The parties hope the agreement will also
accelerate the development and launch of var-
ious other fields. According to a statement
from the African Energy Chamber (AEC), the
two sides will be incorporating plans for the The deal will allow joint development of cross-border fields (Image: Atlas Petroleum)
exploitation of Cameroon’s Etinde gas field,
operated by New Age (UK), and Equatorial foreign investment in the region.
Guinea’s Carmen and Diega fields into the treaty. “The chamber commends the move made by
This move is designed to maximise the chances Equatorial Guinea and Cameroon to unite on oil
for successful implementation of the Gas Mega and gas resource development and exploitation.
Hub (GMH) project, an Equatoguinean ini- We believe that co-operation among African
tiative designed to help develop and monetise countries is key for driving the development
stranded gas reserves in the region. and monetisation of hydrocarbon resources
In its statement, the AEC said it welcomed to address looming energy access and afforda-
and supported the signing of the treaty between bility issues across the continent. We are con-
Malabo and Yaounde. It attributed the success fident that co-operation between Cameroon
of negotiations between the two countries to and Equatorial Guinea will unlock long-term
“the efforts undertaken by an integrated team economic benefits for the entire region,” com-
led by the National Hydrocarbons Corporation mented NJ Ayuk, the executive chairman of the
of Cameroon and Equatorial Guinea’s Minis- AEC. “What we need to see now is consolidated
try of Mines and Hydrocarbons.” Additionally, efforts by all West African countries to address
it urged the parties to keep working together regulations that continue to deter investment,
to address outstanding challenges, includ- thereby putting in place enabling environments
ing restrictive foreign exchange regulations that trigger further growth across the energy
imposed by the Bank of Central African States sector.” ™
(BEAC), saying that these standards deterred

Tanzania starts granting companies

licences to build CNG filing stations

TANZANIA TANZANIA Petroleum Development Corpo-
ration (TPDC) has licensed 20 companies to
build CNG stations that will also have workshop
facilities capable of converting gasoline vehicles,
The Citizen reports.
Wellington Hudson, TPDC’s oil and gas
director, said some licensed companies are
owned by locals while others are joint ventures
involving local and foreign investors. Each CNG
station will be able to fill six vehicles at once and
give six lorries the ability to pick up gas from the
station and distribute it to other areas. TPDC says the CNG stations will be able to convert gasoline vehicles (Photo: TPDC)
Hudson said within the set timeframe of two
years, the corporation plans to build a CNG Four other stations will be constructed, with
mother station at Mlimani City that will enable one being built in Bagamoyo by Turky Petro-
large vehicles to pick up gas and distribute it to leum, two at Mkuranga by Anric Company
various regions where infrastructure has not yet and Dangote and one at Goba by BQ Company,
been established. according to The Citizen. ™

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