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Business Writer

AUSTRALIAN investor, Invictus Energy, has awarded Polaris Natural Resource Development Limited  (“Polaris”) a contract to provide 2D seismic acquisition services for its Phase 2 exploration campaign in the Cabora Bassa Basin as it continues to unlock the potential of the area.

Recently, the firm, which is exploring oil and gas in northern Zimbabwe, confirmed the presence of light oil, gas-condensate, and helium gas in commercial concentrations from its Mukuyu-1 mud gas compositional analysis.

In an update on Wednesday, it said the survey will cover a minimum of 400-line kilometres in the eastern portion of EPO 1848 & 1849 to mature multiple leads along the proven play to the east of, and on-trend with, Mukuyu.

Managing director,  Mr Scott Macmillan, said: “I am pleased to announce Polaris Natural Resource Development Limited has been awarded the contract to carry out an infill 2D seismic survey as part of our Phase 2 exploration campaign in Cabora Bassa.

“Polaris carried out the successful CB21 2D seismic survey in 2021, which helped refine the drilling programme for the play opening Mukuyu-1 well that proved a working hydrocarbon system in the Cabora Bassa Basin and the presence of light oil, gas-condensate, and helium.”

Mr Macmillan added that the CB21 seismic survey also firmed up the potential for multiple stacked hydrocarbon bearing zones in the Basin Margin play, which has been independently estimated to hold nearly 1,2 billion barrels in prospective oil resources.

“This fresh round of high-resolution 2D seismic data is aimed at maturing a number of already identified leads mapped within our Cabora Bassa acreage to drillable prospects, providing further upside potential to our exciting exploration portfolio,” he said.

“The leads, mapped on legacy seismic data, demonstrate amplitude support and anomalies consistent with hydrocarbon bearing intervals encountered in Mukuyu-1. Preparations also continue to advance for the Mukuyu-2 appraisal well, which will look to build on the success of the Mukuyu-1 well and confirm a commercial discovery.”

According to the update, Polaris has commenced mobilising the remaining seismic equipment and personnel to Harare to undergo preparation for the acquisition before deploying to the field.