Petroleum Africa
Find us on: 
Thursday, April 4, 2013
Sunbird Energy has released the initial results from an independent technical assessment to re-evaluate the Ibhubesi Gas Project offshore South Africa. The company said that resource volumes are consistent with previous estimates and confirmed that the existing discovered 1C resource can be developed to achieve Sunbird’s planned Phase 1 development.
The feasibility study has also verified that the resource could be developed without the need for further exploration or appraisal drilling, enabling significant progress to be made towards upgrading the project to a proven reserve.
The assessment, undertaken by specialist geological consulting firm RPS Energy (UK), studied original raw data including drilling results, production tests and seismic data, together with previous independent resource audits and engineering studies. Initial results from the study supported a gas resource including condensate volumes, of a 1C/P90 201 Bcfe resource and a 2C/P50 869 Bcfe resource, consistent with the 2009 estimates completed by DeGolyer & MacNaughton.
The study determined that the 201 Bcfe 1C Contingent Resource represents ‘gas in contact’ with all the gas volumes located in reservoirs that have been penetrated by a well and within existing 3D seismic coverage. In addition, the probability of recovery ranges from P90 to P95 and represented the ‘down side case’ for ultimate gas recovery. The 869 Bcfe 2C Contingent Resource represents the ‘most likely’ gas recovery with all gas volumes located in the same reservoirs as the 1C resource and are also located within the existing 3D seismic coverage.
Sunbird also said that the study determined the flow profiles that can be generated from the 1C and 2C resources based on the production test results and modeling of the reservoir characteristics including that the 1C contingent resource are sufficient to deliver a 12-year gas production plateau at an instantaneous flow rate of 80Mmscf/d, enabling supply of 450 MW of power at a 50% load factor. The 2C contingent resource is sufficient to deliver a 12-year gas production plateau at an instantaneous flow rate of 328 Mmscf/d, enabling supply of 1,800 MW of power at a 50% load factor.
The company believes that the initial results demonstrate a high degree of certainty on recovery of the 1C/P90 201 Bcfe resource and will enable Sunbird to pursue development of the Ibhubesi Gas Field without the need for further exploration or appraisal drilling.
Sunbird MD Will Barker said: “Sunbird has made significant progress on the project since executing the transaction in December 2012. These initial results from the technical assessment take us a step closer to upgrading Ibhubesi from a contingent resource to a proven reserve and delivering a bankable project that will support a Gas Sales Agreement.”
Production drilling for the Phase 1 development of 201 Bcfe 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 869 Bcfe 2C resource and expand production from the field. Significant upside also remains within and outside the 3D data areas with existing 3D and 2D seismic data having identified drilling targets based on seismic anomalies that contain an estimated P50 unrisked Potential Resource of over 8 Tcf.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
