Sunbird Confirms 210 Bcf Reserves at South Africa Project

Africa focused Sunbird Energy has announced that independent assessment of its reserves at the Ibhubesi Gas Project offshore South Africa has confirmed the proven 1P reserves of 210 Bcf, which is consistent with the previous estimates of 190 Bcf in 2009.

This volume of discovered gas is considered to be of high certainty of recovery (P90) and underpins Phase 1 of the Ibhubesi Gas Project development plan, the company said.

The company believes that 2P estimate of 540 Bcf represents the most likely (P50) recoverable volume for the project, indicating significant potential for project viability beyond the Phase 1 Development.

“The targeted production drilling programme planned for the Phase 1 development will provide further appraisal of the field and could enable the upgrading of 2P reserves to the 1P proven category. This will allow Sunbird to progressively upgrade the 1P reserve and expand production from the field,” the company said.

Seven of total 11 wells drilled in the Ibhubesi Gas Project area have encountered gas at commercial volumes suggesting that additional gas volumes are likely to be identified by further drilling during the Phase 1 development.

Sunbird hold a 76% share in the Ibhubesi Gas Project.