Australia’s Invictus progressing with drilling for gas and oil in Zimbabwe

  • Invictus Energy Limited (IVZ) is an Australian listed group focussed on exploring plus developing petroleum.
  • It is the early mover in petroleum in Zimbabwe will the commencing drilling the Mukuyu-2 appraisal well.
  • This project is a follow up to the play opening Mukuyu-1 well, which proved a working hydrocarbon system in the eastern Cabora Bassa Basin in Zimbabwe and the presence of light oil, gas-condensate, and helium.
  • The onshore Cabora Bassa basin lies in the Zambezi Valley in Muzarabani, 300 km northeast of Harare, Zimbabwe’s capital.

The company reports that while the risks remain as the Mukuyu-2 play relies upon fault-seal closure and finding quality reservoirs within a hydrocarbon column, the upside is potentially large. There is multi-trillion cubic feet of wet-gas potential at Mukuyu and in other Central Fairway and Basin Margin structures.

Invictus have been awarded three carbon offset projects for a 30-year term, covering a combined 301,565ha collectively known as Ngamo, Gwayi & Sikumi (NGS) REDD+ project. NGS REDD + project has potential to generate >30 million carbon credits over the initial 30-year project life.

Link to their most recent progress report on their operations in Zimbabwe HERE

Author: Bryan Groenendaal

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