Zim gas discovery 2nd largest South of Sahara

Invictus Energy’s gas discovery in northern Zimbabwe has been qualified by independent analysts as the second-largest hydrocarbon finding in Sub-Saharan Africa in 2023, the Australian company said this week.

During the quarter to December 2023, the Australian oil and gas exploration junior declared two material gas discoveries after recovering a total of 15 downhole gas-condensate samples from both the Upper and Lower Angwa geological targets of its Mukuyu-2 field drilling campaign.

The discoveries have a combined preliminary net pay of 34,9 million cubic feet (Tcf) of gas condensate.

The Upper Angwa discovery was declared and announced on December 7, 2023 following the recovery of four hydrocarbon samples from two reservoir zones within the Upper Angwa formation.

Wood Mackenzie, a globally renowned research and consultancy group supplying data, written analysis, and consultancy advice to the energy, chemicals, renewables, metals, and mining industries, said Invictus’ discovery was ranked second in Africa after Namibia’s Jonker1, a multi-billion barrel find.

Zimbabwe’s gas discovery is the Triassic-aged hydrocarbon in Sub-Saharan Africa. The successful discovery of moveable hydrocarbons in Zimbabwe could have a far-reaching positive impact on the company and economy in general.

Potential game-changing benefits for Zimbabwe include faster economic growth, increased export earnings, national energy security for a country facing a crippling electricity deficit, massive job creation, and the development of completely new downstream industries.

Condensate gases are also used for power generation, manufacture of products such as petrol (gasoline), jet fuel, diesel and heating fuels.

Some condensates, particularly those with a high paraffin content, are used for the manufacture of ethylene (feedstock for polymers and industrial chemicals).

“It marked one of the most significant developments in the onshore southern African oil and gas industry for decades. Recent independent analysis from Wood Mackenzie classifies Mukuyu as the 2nd largest discovery made in Sub-Saharan Africa in 2023 behind Shell’s Jonker-1 discovery in the Orange Basin in Namibia,” Invictus said.

The dual discoveries confirm the incredible potential of the Mukuyu gas field, with the Mukuyu-2 well drilled seven kilometres away and 450m up-dip of the Mukuyu-1 well, which can now subsequently be classified as a discovery.

This provides confirmation of the large potential of the Mukuyu field, which has a structural closure of over 200 km2.

While Mukuyu-1, the first test well drilled by Invictus showed encouraging results of the potential presence of hydrocarbons.

It could however not be declared a successful discovery after the company failed to recover fluid samples, as required by regulators before declaring a discovery.

Invictus’ dominant acreage position in the Cabora Bassa basin provides the company with the ability to deliver further discoveries from its substantial portfolio of drill-ready prospects and leads following the basin-opening discoveries delivered from the first two wells.

The firm has since executed a contract amendment with Exalo Drilling S.A to keep Rig 202, used in the Mukuyu drilling campaign, in the Cabora Bassa Basin for up to two years.

Rig 202 is stacked at the Mukuyu-2 location whilst preparations are made for future drilling and testing campaigns in the basin area.

During the rig stacking period, Exalo will undertake maintenance on Rig 202.

The contract extension will ultimately result in substantial cost and time savings as well as provide flexibility and mobility for Invictus’ future drilling campaigns.

During the quarter Invictus continued the interpretation of 425km of high-resolution data acquired through its CB23 infill seismic survey conducted in partnership with Polaris Natural Resources and completed in August 2023.

Data processing was carried out by Earth Signal Processing and has subsequently been completed and final products are due for delivery.

Early interpretation from the eastern and southern portion of exclusive prospecting order (EPOs) 1848 and 1849 is likely to inform future drilling targets, of which several exciting leads identified will be matured to drill-ready prospects after the end of the March quarter.

During the quarter Invictus and Mbuyu Energy signed an updated Gas Sales Memorandum of Understanding for the supply of gas for a 500 megawatts gas-to-power project.

Under the MOU, Invictus would supply gas to Mbuyu to the power project plant, which can be expanded up to 1 000MW in the future with a forecast total demand of 1,4 Tcf of natural gas required over 20 years.

The updated MOU builds on the previous MOU signed in December 2019 with Tatanga Energy and is a precursor to the negotiation of a full Long Term Gas Sale Agreement to supply sufficient gas to power for the proposed plant.-ebusinessweekly