Invictus to complete oil, gas exploration drilling in 60 days

INVICTUS Energy, which is searching for oil and gas in Zimbabwe’s northern districts, says it is on track to complete the drilling of Mukuyu-2 exploration well within the target period of 50 to 60 days, as it eyes the market for power supply.

The drilling campaign on Mukuyu-2 well began a fortnight ago with nearly half a kilometre having been drilled so far. This marked the second attempt the company has undertaken exploration drilling after the first was inconclusive due to technical glitches encountered in the drilling.

However, the evaluation of technical data gathered from the first test drilling exercise confirmed the existence of a working hydrocarbon system in the prospective areas, which should see the firm achieve commercial success in the second time attempt.

The groundbreaking Mukuyu-1 prospect exploration drilling was conducted in September last year.

Due to the technical issues experienced with Mukuyu-1, Invictus could not extract a fluid sample to fulfill regulatory requirements in order to declare a commercial discovery, although large natural gas and oil reserves were confirmed in the area.

Invictus is listed on the Australian Stock Exchange, which regulates terms for commercial success or discovery of petroleum commodities. Oil and gas are major sources of energy across the country and would deliver immense economic benefits for Zimbabwe if successfully discovered, including energy security.

While Zimbabwe continues to make progress in ramping up power production, the output remains significantly lower than the country’s overall requirements while inadequate to cover future demand as the economy grows.

“Mukuyu-2 is on track to complete drilling and evaluation within an estimated 50-60 days.

Since the last update, the Exalo Rig 202 has drilled the 17 ½” surface hole section down to a depth of approximately 496 metres Measured Depth (MD).

“The 13 ⅜ inch casing has been set in place and the blowout preventer (BOP) stack successfully installed, with drilling of the intermediate 12 ¼ inch hole section commenced.

“Forward Plan Rig 202 will continue to drill ahead in the 12 ¼” inch intermediate hole section through the Dande and Forest targets to a planned total section depth of approximately 2 040m MD within the Pebbly Arkose formation before running a wireline logging evaluation suite and then setting the 9 ⅝” casing,” said Invictus in a statement released yesterday.

Mukuyu-2 well, will be drilled to a planned total depth of 3 750 metres.

“Drilling and evaluation of the well is prognosed to take approximately 50 to 60 days to complete.”

Seismic studies done in Muzarabani and Mbire oil and gas fields revealed potential for 283,2 billion cubic metres (8,2 trillion cubic feet) of natural gas, which is a substantial amount, and almost 40 million cubic metres (around 250 million barrels) of oil condensate.

Commercial discovery of oil and gas would enhance Zimbabwe’s security and unlock avenues for massive economic growth and development through the emergence of downstream industries, new job creation, growth in export earnings and Government revenue.

In a recent update, Invictus noted that Sadc region is facing an energy crisis with increasing shortages of gas and electricity hampering industry and investment electricity supply shortage – load shedding.

“Acute regional power deficit is worsening with record load shedding in 2023 and national ‘state of disaster’ declared in South Africa

“Current supply shortfall of 7 000MW and a medium-term shortfall of 15 000MW

“South Africa’s aging coal-fired power plants providing 20 percent (10 000MW) of power supply are being retired in coming years,” said the company.

It said gas-to-power is critical to address the regional power supply deficit, adding that the Southern African Power Pool (SAPP) enables cross-border electricity trading between states in the region.-herald