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Nqobile Bhebhe

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AUSTRALIAN investor, Invictus Energy, which is exploring for oil and gas in northern Zimbabwe has confirmed the presence of light oil, gas-condensate, and helium gas in commercial concentrations from its Mukuyu-1 mud gas compositional analysis.

In a latest update, the company noted that the results of analysed samples demonstrate a consistent, high-quality natural gas composition, adding that the presence of helium gas in commercial concentrations in multiple reservoir units is comparable with global helium producing fields, and provides an additional high-value by product.

Last year Invictus Energy indicated that the country could be sitting on more than 5,5 billion barrels of oil. A barrel of oil equivalent (boe) is a term used to summarise the amount of energy that is equivalent to the amount of energy found in a barrel of crude oil.

It said the project is one of the largest oil and gas exploration prospects to be drilled globally this year and if successful, could be transformative for the company and Zimbabwe.

Invictus managing director, Mr Scott Macmillan, said the success at Mukuyu-2 and confirmation of a significant discovery will further unlock the firm’s value and the basin master position in the Cabora Bassa Basin.

“We are extremely pleased with the results from the mudgas analysis, which confirm our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas condensate provides us with confidence as we prepare for the drilling of Mukuyu-2 in Q3 this year,” he said. 

“Results from the mudgas compositional analysis definitively proves the presence of hydrocarbons in multiple reservoir pay zones at Mukuyu-1 consistent with the wireline log interpretation, fluorescence, and elevated mudgas readings. 

“Analysis shows the presence of light oil and rich natural gas-condensate, with condensate gas ratios estimated at between 30 to 135 barrels per million cubic feet.”

Mr Macmillan said the analysed samples demonstrate a consistent, high-quality natural gas composition, exhibiting low inert content, containing less than one percent CO2.