Invictus Energy unveils multi-prospectivity with ambitious future plans
HARARE – Invictus Energy, an independent oil and gas exploration company, has announced significant advancements in its exploration activities within the Cabora Bassa Basin in Mashonaland Central.
Following the successful interpretation of the recently completed CB23 seismic survey, the company has identified multiple high-potential gas prospects, positioning itself for a promising future in the region.
The latest findings reveal an estimated 2.9 trillion cubic feet (Tcf) of gas and 184 million barrels (MMbbl) of condensate across eight key prospects in the eastern Cabora Bassa Basin. This substantial resource estimate is based on a gross mean unrisked basis, underscoring the basin’s potential as a significant player in the energy (gas) sector. Among these prospects, the Musuma prospect stands out, with an estimated recoverable resource of 1.17 Tcf of gas and 73 million barrels of condensate.
Invictus Energy’s Managing Director, Scott Macmillan, expressed enthusiasm about the results from the CB23 seismic survey, stating, “We’re extremely pleased with the results, which have identified material prospectivity in the eastern portion of our acreage. Exploration success at these prospects would prove up a further material play within Invictus’ acreage and assist with unlocking additional significant value in the portfolio.”
The company’s exploration strategy is bolstered by the de-risking of the eastern basin’s prospectivity, largely attributed to the successful drilling and appraisal of the Mukuyu gas field. Evidence of hydrocarbon migration, particularly from the Mukuyu-2 Dande Formation sidewall cores, has provided further confidence in the potential for significant hydrocarbon accumulations in the identified prospects.
Looking ahead, Invictus Energy has laid out ambitious plans for its exploration campaign. The company is set to drill an exploration well at the Musuma prospect in 2025, targeting over 1 Tcf of gas. This well will not only test the Dande play but also serve as a critical step in advancing the company’s early gas monetization strategy. In addition to Musuma, further appraisal drilling in the Mukuyu gas field is planned, aimed at maximizing the potential of the existing discoveries.
The exploration efforts in the Cabora Bassa Basin are part of Invictus Energy’s broader strategy to capitalize on high-impact energy resources in sub-Saharan Africa. With a portfolio encompassing 360,000 hectares in the basin, the company is well-positioned to explore and develop its assets, contributing to the region’s energy landscape.
In emailed responses to FinX, Macmillan said the company has implemented a multi-phased exploration strategy that integrates both exploration and corporate strategies, ensuring a comprehensive framework for assessing and developing its assets. This approach is designed to maximize the value of the Cabora Bassa Basin while minimizing risks associated with exploration and development.
He said in addition to its exploration efforts, Invictus is actively pursuing near-term commercialization options. Invictus is strategically positioned to capitalize on its proximity to industrial energy users, enabling the development of pilot gas-to-power programs. One such initiative is planned for the Eureka Gold Mine, located just 50 kilometers away, which aligns with Invictus’ early monetization strategy and can be implemented at relatively low costs.
The Cabora Bassa Project’s location also provides advantageous access to existing energy infrastructure networks, including the Southern Africa Power Pool (SAPP). This network facilitates the widespread distribution of gas-to-power solutions throughout Zimbabwe and into neighboring sub-Saharan African countries, enhancing the project’s potential impact on regional energy supply.
Macmillan said for full field development, which would allow for large-scale piped gas distribution to the industrial and resources sectors, additional conversion and connection infrastructure will be necessary. However, Invictus benefits from the presence of key components already in place, which can leverage existing infrastructure to support this expansion.
In addition to recently securing immediate funding, Invictus Energy is actively seeking potential capital and farm-in partners to provide longer-term financing options and technical expertise. This collaborative approach is vital as the company navigates the planned development stages of the Cabora Bassa Project.
As Invictus prepares for its next exploration drilling campaign, stakeholders and investors are keenly watching the developments in the Cabora Bassa Basin, anticipating the potential for significant discoveries that could reshape the company’s future and the energy market in Zimbabwe.
-finx
