12 October 2013, Johannesburg – Australian-listed company Sunbird Energy has received government approval for the acquisition of the Ibhubesi gas project off South Africa’s west coast, paving the way for a multi-billion rand investment that would boost the country’s gas-to-electricity generation capacity.
Sunbird and its South African empowerment partner Umbono Capital were “particularly happy with the extremely professional and timely handling of the approvals process by the regulator”, Sunbird said in a statement.
The approval establishes Sunbird as the operator of South Africa’s largest and most advanced undeveloped gas field with a 76% working interest, with national oil company PetroSA holding the remaining 24% of the licence.
– SouthAfrica.Info
