Senior Business Reporter
INVICTUS Energy, the Australian company developing and exploring gas deposits in northern Zimbabwe plans further test drills on its Musuma prospective area next year.
Last year, the firm confirmed large natural gas and oil reserves in its Cabora Bassa Basin prospective area in Mbire, Mashonaland Central Province.
The discoveries marked a huge step towards energy security for the country and opened new avenues towards economic growth and development through new downstream industries, job opportunities, increased export earnings and Government revenue.
In an update for the third quarter to September 30, 2024, Invictus said “The Musuma prospect has emerged as the favoured candidate to drill test the Dande play in eastern Cabora Bassa next year.
“The prospect has interpreted seismic amplitude support and is estimated to have a recoverable prospective resource of 1 170 billion cubic feet (Bcf) and 73 million barrels of condensate.
“Exalo 202 rig remains onsite at the Mukuyu-2 location and is available for a 2025 exploration drilling campaign.”
The Mukuyu-2 discovery was drilled seven kilometres away and 450 metres up-dip of the Mukuyu-1, which was also declared a discovery, confirming the incredible potential of the Mukuyu fields in Mbire district.
The Mukuyu-1, Invictus basin opening well, encountered technical challenges that prevented the recovery of oil/gas samples as required by the regulatory authorities in Australia.
However, it was eventually declared a successful discovery after Mukuyu-2 on account of striking technical details from the evaluation of both sets of data from the exploration wells.
Invictus also holds some blocks in Muzarabani, a few kilometres from the existing sites of the condensate gas (a form of light oil) discoveries.
During the quarter under review, the Government through the Mining Affairs Board approved a three-year extension of the exploration licence covering Special Grant 4571 to June 2027.
The firm, which is finalising a petroleum production sharing agreement (PPSA) with the Government under a deal that would guarantee the State of getting a 40 percent share of the hydrocarbons extracted — plans to undertake a comprehensive work programme for the third three-year exploration period including 3D seismic acquisition and additional exploration/appraisal drilling.
Invictus has since completed the planning for well testing of Mukuyu-2 and preparation for the acquisition of 3D seismic data across the Mukuyu gas field.
Once the work is completed, it will assist in the evaluation of the Mukuyu gas field resources and preparations for the early commercialisation pilot scheme for a gas-to-power project for the Eureka Gold Mine.
In April this year, Invictus announced the signing of a Memorandum of Understanding with Dallaglio Investments and Himoinsa Southern Africa for the proposed gas-to-power project to supply electricity to the Eureka Gold Mine.
“Results from the work programme will aim to determine future appraisal and development well locations, characterise the core development area in the greater Mukuyu structure (which has over 200 square kilometres under closure) and support future commercialisation from a fast-track full field development,” said Invictus.
It is hoped that early monetisation of the oil/gas project could bring significant relief for the country which at the moment is struggling to meet its national power demand, peaking at 2 200MW, especially during winter.
Zimbabwe’s power deficit is managed through imports, which can result in power outages lasting for several hours, disrupting commercial and household activity.
Early this year, Invictus announced that it had updated its memorandum of understanding with a local firm, Mbuyu Energy for the supply of a 500MW gas-to-power project.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
It is hoped that once fully developed, the plant could generate up to 1 000MW and to produce such power 1,4 trillion cubic feet of natural gas will be required.
Such power generation would support further integration of renewable energy sources into Zimbabwe’s overwhelmed national grid and the Southern African Power Pool.
A global petroleum research company Wood Mackenzie classified the Mukuyu gas finding as the second largest petroleum reserve in Africa in 2023.
Mukuyu’s estimated resource is 230 million barrels of oil equivalent to 1,3 trillion cubic feet, following two gas discoveries from the Upper and Lower Angwa geological reservoirs declared by Invictus in December last year.
The Mukuyu field has a structural closure of over 200 square kilometres, and independent estimates place the resource at 20 trillion cubic feet of gas and 845 million barrels of conventional gas condensate.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
