Invictus to hit oil, gas in Muzarabani
INVICTUS Energy says initial results from wire line logging in the Cabora Bassa Basin in Muzarabani are confirmatory of oil and gas and preparations are underway to drill primary targets in the Upper Angwa and Pebbly Arkose formations.
The Mukuyu-1 well is presently being drilled by the Australian-listed firm, which is searching for oil and gas at its 80 percent owned Special Grant under licence number 4571 in the Cabora Bassa Basin.
In a latest update, the company said since its recent update, the 12 ¼” hole section has been completed and section Total Depth (TD) was called at 2021 metres Measured Depth (MD) in order to set the 9 ⅝” casing near the base of a substantial regional seal above the primary targets.
It said following the completion of the first suite of wireline logging, a zone of interest in the secondary objective in the 200 Horizon target coincident with observed seismic amplitude anomalies was interpreted to contain potential hydrocarbons.
This, Invictus said was based on significantly elevated resistivity (two orders of magnitude above baseline) across a 10-15 metre interval from an estimated 785m MD and separation between shallow, medium and deep resistivity readings.
Invictus managing director, Scott McMillan said: “The initial results from wireline logging and potential for hydrocarbons is very encouraging as we prepare to drill our primary targets in the Upper Angwa and Pebbly Arkose formations.
“We will integrate the data we have gathered from the drilling, logs and seismic analysis to determine an optimal future location to test the 200 Horizon in an up dip position and away from the fault plane where conventional reservoir quality is likely to be present.”
He said the Mukuyu-1 well trajectory has been designed primarily to test the Pebbly Arkose and Upper Angwa targets in a crestal location and to intersect the amplitude anomalies and flat spots observed within them.
“The presence of a thick regional shale sitting above the traps, reservoir targets and source rock reduces the key risk of seal presence and effectiveness for the primary targets identified pre-drill.
“The well remains on track to be completed in the previously guided timeframe,” he said.
Drilling and evaluation of the well is projected to take an estimated 50 to 60 days to complete after the drilling exercise began in September this year.
Meanwhile, global natural gas consumption is expected to grow at an average of rate of 0,8 percent from this year to 2025, reaching nearly 4, 240 billion cubic metres (bcm) by the end of this forecast.
This represents a 3,4 percent increase compared with last year, according to the International Energy Agency in its latest quarterly Gas Market Report.-ebusinessweekly
