With the campaign, Mtizwa explained that Zimbabwe stands to receive as much as 60% of the project’s output under a production agreement, which is currently still being finalized. “If we’re successful, this project will be transformational, a gamechanger for Zimbabwe.”
Representing part of the Cabora Bassa project located in northern Zimbabwe, drilling for Mukuyu-1 will be conducted by European onshore drilling contractor, Exalo Drilling, with the company’s drilling equipment having already arrived on site. The wells will be dug to a depth of approximately 3.5 to 4km.
“We hope to spud by the end of the month or the first week of September,” stated Paul Chimbodza, Chairman of One Gas Resources – Invictus Energy’s exploration partner.
The potential onshore find will be key for the southern African region as Zimbabwe and neighboring countries tackle supply chain disruptions, price volatility and rising demand for oil and gas. Invictus Energy’s drive to drill emphasizes the company’s commitment to bringing new resources on the regional market.
Invictus Energy’s exploration campaign comes nearly three decades after US-based Exxon Mobil Corp mothballed its own campaign in the region, with the company focusing on oil exploration rather than gas. However, for Invictus Energy, the region offers higher potential for gas, owing to nearly 100 tcf discovered in neighboring Mozambique.