Australian Energy giant discovers oil, gas in Zimbabwe
By Delicious Mathuthu
Northern Zimbabwe gas and oil exploration in the Muzarabani area has finally yielded results as Australian energy giant, Invictus Energy Limited announced the discovery of the two resources on Monday (04/03/2024).
Following years of speculation on the existence of substantial oil deposits in the country, dating back to the early 90s, the Australian company has finally made a break through.
The company says the discovery is the second largest in Sub-Saharan Africa, Cabora Bassa Basin.
“We are extremely pleased with the early results from the down-hole reservoir fluid sample analysis which confirms a large and rich gas-condensate discovery at Mukuyu 1,” Invictus Energy Ltd Managing Director, Mr Scott Macmillan said.
“The analysed samples demonstrate a consistent, high-quality natural gas composition, exhibiting low inert content, containing less than 2% CO2 and nil H2S which will require minimal processing.”
As said, the samples reveal that the discovered natural gas is high quality with minimal impurities and no hydrogen sulphide presence.
Macmillan said the company is now optimistic following the Mukuyu 2 discoveries as well, and currently working on monetising the discovery and further exploration.
“The results from Mukuyu-2 are consistent with 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 next phase of our appraisal program and work towards the monetisation of the Mukuyu gas discoveries and further exploration of our exciting portfolio of multiple drill ready prospects which has been substantially enhanced by the positive results from Mukuyu,” he said.
The company says the condensate gas ratio (CGR) is estimated to be between 14-22 barrels per million standard cubic foot (Mscf) of gas.at Mukuyu-2.
Zimbabwe Energy Minister, Soda
Zhemu, while addressing journalists in the country’s capital, Harare, confirmed the company’s discovery.
Invictus Energy Ltd, Headquartered in West Perth, Australia, is an independent oil and gas company also with offices in Harare, Zimbabwe.
The company says the Cabora Bassa Basin in Northern Zimbabwe is ‘one of the last untested large frontier rift basins in on-shore Africa’.
Previously explored by Mobil Oil, the company says the project contains the largest undrilled structure in on-shore Africa.
“The exploration covers about 250 000 acres located in the most prospective portion of the Cabora Bassa Basin in northern Zimbabwe.
“Invictus entered into an agreement with the Sovereign Wealth Fund of Zimbabwe in August 2022 to increase the licence area to a total of 360,000 hectares,” the company says.
The prospecting licence is currently in the second exploration period and expires in June 2024.
“The Muzarabani anticline feature has over 200km2 under closure and up to 1,500m vertical relief at favourable depths for conventional oil and gas.” The company said.
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