Gabon: Ibekelia Marin
Location: Southern Gabon Sub-Basin
Area: 673km2
Sterling Equity: 40% (Operator)
Partners: Addax, Afren
The Ibekelia Technical Evaluation Agreement (TEA) is situated in the prolific Southern Gabon Basin and spans the gap between the Sterling operated Iris Marin and Themis Marin PSCs. Ibekelia is adjacent to the Gamba and Ivinga producing oil fields and the Olowi oil development. Sterling holds a 40% working interest and is operator.
The Ibekelia TEA was signed in September 2005. The permit contains the same play types that are being evaluated in Iris Marin. The Ibekelia Joint Venture acquired a high resolution aeromagnetic survey during Q1 2007 to complement the then ongoing geological and geophysical studies, which are now complete. The Joint Venture intends to exercise its exclusive option to enter into a PSC following these studies.
