gtag('config', 'UA-12595121-1'); Invictus begins oil and gas drilling major prospect in Zimbabwe – The Zimbabwe Mail

Invictus begins oil and gas drilling major prospect in Zimbabwe

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Australia’s Invictus Energy has begun drilling the Mukuyu-1 exploration well in Zimbabwe.

The company spudded the well on September 24, targeting a total depth of 3,500 metres. It said this should take around 50-60 days to complete.

Mukuyu is one of the largest exploration prospects to drill this year. Invictus has reported a prospective resource potential of 20 trillion cubic feet and 845 million barrels of gas condensate. This is equivalent to 4.3 billion barrels of oil equivalent on a gross mean unrisked basis.

Invictus managing director Scott Macmillan described the start of drilling as “an exciting and long-anticipated moment for Invictus and our shareholders”.

The company and 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.”

The well intends to test several stacked Triassic and younger sandstones in a 200 square km four-way dip closure. Invictus is using the Exalo 202 rig to drill the well.

“Mukuyu-1 is a world-class, basin opening well which, if successful, could be transformative for the company and Zimbabwe,” Macmillan said.

The company has signed two memorandums of understanding (MoUs) on potential gas sales with local customers in Zimbabwe.

The Australian minnow has an 80% stake in the Cabora Bassa project. Earlier this month Invictus signed up to expand its position in the basin.

After Mukuyu-1, Invictus will drill the Baobab-1 well. This second well will test an independent play on the basin margin. Work on the Baobab-1 will take around 30-40 days. Invictus has compared this second well to Ngamia, in Kenya.

Source: Energy Voice