South African Ibhubesi project under new offer

摘要

The operator of South Africa's Ibhubesi gas project is considering a takeover offer. Sunbird Energy has been looking at a US $1.4 Bn gas to power development to commercialise the 540 Bcf of 2P reserves in the field in Block 2A around 70km offshore. However, it has run into financial difficulties and has had an indicative non-binding proposal from Glendal Power & Industries which is a South African based majority black owned power infrastructure company.