Zimbabwe: Invictus Energy Completes Petroleum PSA
The final approval and implementation of the Petroleum Production Sharing Agreement is expected in the coming weeks, advancing the development of the Zimbabwe’s Cabora Bassa Basin.
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The final approval and implementation of the Petroleum Production Sharing Agreement is expected in the coming weeks, advancing the development of the Zimbabwe’s Cabora Bassa Basin.
Invictus Energy will utilize the funds to test Mukuyu-2 flow and develop early monetization opportunities.
Invictus Energy, Himoinsa and Dallaglio will assess whether to power Eureka Gold Mine using the national grid or an onsite power generation system.
Invictus Energy will move ahead with plans to carry out appraisal drilling and seismic surveys on its Mukuyu discovery in Zimbabwe
The gas discovery in Zimbabwe’s Mukuyu field by Invictus Energy is poised to invite global attention to the country’s untapped resources.
The success of Invictus Energy at the Caborra Bassa project will be crucial in unlocking energy security, economic growth and job creation in Zimbabwe.
Gas from Invictus Energy’s Cabora Bassa Project will be directed to a 500 MW gas-to-power plant, leveraging two latest gas discoveries.
The Mukuyu-2 discovery has opened up the onshore basin, which is estimated to contain as much as 20 trillion cubic feet of gas.
The company will extend its contract with Exalo Drilling’s Rig 202 for up to two years to enable additional energy drilling in the Cabora Bassa Basin in Zimbabwe.
Invictus Energy may sell a stake in its Zimbabwean oil and gas project pending positive results from its Mukuyu-2 exploration well.