Invictus commences milestone, largest oil and gas exploration drilling

27 Sep, 2022 - 00:09 0 Views
Invictus commences milestone, largest oil and gas exploration drilling

The Chronicle

Senior Business Reporter
INVICTUS Energy, which is searching for oil and gas in the north of Zimbabwe began drilling last Friday, a project it says is one of the largest oil and gas exploration prospects to be drilled globally this year.

The first exploration well to confirm the presence of commercial quantities of oil and gas at the Cabora Bassa Basin in Muzarabani has a combined prospective resource potential of 20 trillion cubic feet and 845 million barrels of conventional gas condensate.

The Australia-headquartered firm said the Mukuyu-1 project, if successful, could be transformative for the company and Zimbabwe.

Commercial discovery of oil or gas by Invictus Energy is expected to go a long way in making Zimbabwe, a net importer of petroleum, which also faces acute shortage of power, energy self-sufficient.

Invictus Energy managing director, Mr Scot McMillan, described the development as “an exciting and long-anticipated moment for Invictus and its shareholders”.

“Invictus, together with our partners, have methodically de-risked and matured the Mukuyu prospect and our Cabora Bassa acreage over the last several years and the commencement of our drilling campaign is a significant milestone,” he commented.

“Mukuyu-1 is a world-class, basin opening well, which, if successful, could be transformative for the company and Zimbabwe.”
In announcing the development, the oil and gas exploration firm said: “The company is pleased to announce drilling at the Mukuyu-1 exploration well in SG 4571 commenced on Friday 24 September local time. Drilling will commence from the installed conductor at 67m to a planned depth of 650m in the 17½ inch intermediate hole section.

“The Mukuyu-1 well is designed to target several stacked Triassic and younger sandstones within a 200km2 four-way dip closure on the basement high trend.

“Mukuyu is one of the largest oil and gas exploration prospects to be drilled globally in 2022, targeting a combined prospective resource potential of 20 trillion cubic feet and 845 million barrels of conventional gas condensate.”

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