Sunbird secures US funding for Ibhubesi
Sunbird MD Will Barker discusses the US Trade and Development Agency grant for the Ibhubesi project in South Africa. Video courtesy of PPR.
PERTH (miningweekly.com) – Gas developer Sunbird Energy has secured funding from the US Trade and Development Agency (USTDA) to progress the field development of its Ibhubesi project, offshore South Africa.
The USTDA, a foreign assistance agency funded by the US Congress, has informed Sunbird that it would provide some 80% of the funding for a A$1-million work programme, which was to be undertaken by US-based consultants MHA Petroleum Consultants.
The field development plan included studies on reservoir modelling, production forecasts and the design of a production drilling programme.
Sunbird MD Will Barker said on Monday that the company was delighted to have secured USTDA support for the Ibhubesi project.
“It is very strong validation of the regional importance of Ibhubesi to the South African energy equation. With Ibhubesi being the largest undeveloped gas field in South Africa, its proven reserves can replace high-cost imported diesel and help meet the significant demand for gas-fired power generation.”
Sunbird expected to make a final investment decision on the gas field by early 2015. The initial phase of the project could involve an investment of between R12-billion and R14-billion to produce 28.3-billion cubic feet of gas yearly over an initial six- to eight-year horizon.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
