Independent oil and gas company Invictus Energy and Zimbabwean consortium Mbuyu Energy have inked an updated Memorandum of Understanding (MoU) for the supply of gas to Mbuyu’s proposed 500 MW Gas-to-Power Project, with potential expansion to 1,000 MW.
The agreement follows Invictus’ announcement last week of a second gas discovery at its Mukuyu-2 well in the Cabora Bassa Project in Zimbabwe.
Building on a previous agreement with Tatanga Energy in 2019, the MoU lays the groundwork for discussions leading to a comprehensive Long-Term Gas Sale Agreement, which would ensure the necessary supply of gas for the envisioned power plant. The proximity of the Mukuyu field to major interconnectors within the Southern Africa Power Pool positions the project favorably for potential power exports to neighboring countries.
“The project also has significant potential to drive economic growth, fostering new industries, creating jobs, and stimulating broader economic development across Zimbabwe. We are confident that the Gas-to-Power Project represents a turning point for Zimbabwe’s energy sector and its journey towards a cleaner and more prosperous future,” said Tunde Akerele, Director of Mbuyu Energy.
The 500 MW power plant aims to limit its environmental impact by employing a more efficient combined-cycle gas turbine configuration, and will align with the wider Cabora Bassa Project, involving gas production, transportation and infrastructure for supplying natural gas feedstock.
While appraisal efforts are still underway, the Mukuyu-2 gas discovery has set the stage for further exploration in the Upper and Lower Angwa reservoirs and significantly increases the estimated resource potential of the Mukuyu gas field.
