The South African government will transfer offshore Block 2A licence, which includes the Ibhubesi Gas Project in the Orange Basin, to Sunbird Energy
The project lies on Block 2A, about 105km off the coast of the Northern Cape Province and Sunbird Energy has estimated that the area holds 15.3bn cubic metres of potential reserves.
According to a statement, Sunbird Energy now carries a 76 per cent operating interest in the license, with the remaining 24 per cent stake being held by South African national oil company PetroSA.
Earlier this year, Wood Group Kenny had awarded an engineering and project management services contract to Sunbird Energy for its Ibhubesi Gas Project.
Sunbird Energy chairman Kerwin Rana said, “The transfer allows us to now focus on securing a gas market.”
Rana said that he valued the gas project at US$1bn.
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Sunbird Energy wins project management contract offshore South Africa
