Southern African gas explorer and developer, Sunbird Energy Ltd is pleased to provide an update on its planned 2014 activities associated with the Ibhubesi Gas Project (IGP or the Project), offshore South Africa.
Since announcing the acquisition of Ibhubesi in December 2012, Sunbird has rapidly progressed the development of the IGP delivering a series of major milestones, including:
◾ Completed Feasibility Studies confirming technical and commercial viability of the Project;
◾ Received Independent certification of the maiden reserves for the field, 540 Bcf (2P);
◾ Successfully completed Concept Select engineering studies;
◾ Secured funding from the US Trade and Development Agency for completion of the Field Development Plan;
◾ Secured approval from the South African Government Regulators for the Section 11
◾ transfer of title for Block 2A providing Sunbird with 76% operating interest in the Project; and
◾ Secured MoU with Eskom for the joint investigation into potential gas sales from the Ibhubesi Gas Project to Eskom's Ankerlig Power Station on the west coast of South Africa.