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Invictus plans further drilling for oil, gas...

Harare – Australian energy firm Invictus Energy is set to expand its exploration and drilling activities in northern Zimbabwe, targeting the Musuma area in the Cabora Bassa Basin.

Following last year’s discovery of vast natural gas and oil reserves in Mbire, Mashonaland Central Province, the company has identified Musuma as a high-potential site for further exploration in 2025.

According to Invictus Energy’s latest quarterly report ending September 30, 2024, the Musuma prospect has emerged as a key candidate for the upcoming drilling campaign. “The Musuma prospect has interpreted seismic amplitude support and is estimated to hold a recoverable prospective resource of 1,170 billion cubic feet (Bcf) of gas and 73 million barrels of condensate,” the report stated. The Exalo 202 rig remains at the Mukuyu-2 site and will be mobilised to Musuma for drilling next year.

Expanding Exploration in the Cabora Bassa Basin
The Mukuyu-2 well, located just seven kilometres from the initial Mukuyu-1 site, was successfully drilled and confirmed as a major gas and oil discovery. Mukuyu-1, which initially encountered technical difficulties, was ultimately declared a success after data from both wells were evaluated, underscoring the potential of the Mukuyu fields in Mbire district.

Invictus Energy also holds exploration blocks in Muzarabani, a region near the Mukuyu sites, with additional potential for gas condensate – a type of light oil. The Zimbabwean government recently extended Invictus’s exploration licence for the Cabora Bassa region, enabling further exploration activities through to June 2027. A comprehensive work programme, including advanced 3D seismic acquisition and additional drilling, is planned for this period.

Progress on Petroleum Production and Power Generation Plans
A major milestone in Invictus’s project is the pending Petroleum Production Sharing Agreement (PPSA) with the Zimbabwean government, which guarantees a 40 percent share of hydrocarbon profits for the state. The company has also finalised plans for well testing of Mukuyu-2 and 3D seismic mapping to refine resource evaluations in preparation for a gas-to-power pilot project.

In April, Invictus signed a Memorandum of Understanding with Dallaglio Investments and Himoinsa Southern Africa to establish a gas-to-power project supplying electricity to the Eureka Gold Mine. This initiative aims to fast-track commercialisation of the Mukuyu resources and address Zimbabwe’s ongoing power shortages, which reach a peak demand of 2,200 MW, especially during winter. Zimbabwe currently relies on electricity imports, leading to frequent outages that disrupt commercial and residential areas.

Further, Invictus has expanded its agreement with Mbuyu Energy to develop a 500MW gas-to-power project, which could eventually scale up to generate 1,000 MW. An estimated 1.4 trillion cubic feet of natural gas will be needed to sustain this capacity, potentially easing Zimbabwe’s reliance on imported power and supporting the integration of renewable energy into the national grid.

Regional and Global Impact of Mukuyu Gas Discovery
Invictus’s Mukuyu field discovery, spanning over 200 square kilometres, is poised to be a significant contributor to Africa’s energy reserves. Global research firm Wood Mackenzie recently classified the Mukuyu field as Africa’s second-largest petroleum reserve, following two major gas finds in the Upper and Lower Angwa geological reservoirs. The Mukuyu resource is estimated to contain up to 20 trillion cubic feet of gas and 845 million barrels of condensate, positioning Zimbabwe as a key player in the African energy sector.

The successful commercialisation of these resources could propel Zimbabwe’s economy, creating thousands of jobs, boosting export revenues, and enhancing government income. The planned Mukuyu gas-to-power projects also have the potential to provide substantial power generation capacity to the Southern African Power Pool, helping address regional electricity shortages and facilitating broader economic stability.

Towards Energy Security and Economic Growth
With Invictus’s exploration underway, Zimbabwe is moving closer to achieving energy security, potentially reducing power outages and supporting new downstream industries. As Minister of Finance, Economic Development, and Investment Promotion Professor Mthuli Ncube noted, “These advancements in energy will underpin Zimbabwe’s structural transformation, as reliable energy is crucial for our country’s economic development and resilience.”

As Invictus continues its ambitious plans in the Cabora Bassa Basin, Zimbabwe’s energy landscape stands on the brink of transformation. The Musuma drilling campaign and continued evaluation of Mukuyu’s resources signal promising developments for the country’s energy independence, economic growth, and industrial expansion, setting the stage for Zimbabwe’s emergence as a significant energy producer on the African continent.

https://www.thezimbabwemail.com/business/invictus-plans-further-drilling-for-oil-gas/

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