INVICTUS ENERGY, an Australian firm scouting for and developing oil and gas assets in northern Zimbabwe, says its projects will create 10 000 jobs directly and indirectly when it
commences production.
The company, which began exploration drilling in 2022, spending more than US$80 million to date at its Cabora Bassa Basin in Mbire and Muzarabani districts, Mashonaland Central province, last year, confirmed natural gas and oil discovery in the prospective area.
The Mukuyu discoveries from the Lower and Upper Angwa formations of the targeted prospective area ranked as the second-largest oil/gas discovery in Sub-Saharan Africa in 2023, representing an estimated 230 mmboe (million barrels of oil equivalent) or 1,3 trillion cubic feet (Tcf) of gas from just the first two wells drilled in the 200-squarekilometre Mukuyu structure.
Analysis of downhole samples retrieved to the surface revealed high-quality gas condensate with minimal impurities, ideal for low-cost processing.
Importantly, hydrocarbon presence and migration were proved in secondary targets and
present additional upside in shallower targets.
The Mukuyu discovery considerably derisks future exploration and development of the Cabora Bassa Project.
Further 3D seismic data is being acquired over the Mukuyu prospective area to help determine resource scale and assist in high-grading the core development areas of the field.
Simultaneous activities to develop Mukuyu assets include post-well studies, reservoir engineering studies, well design refinements and appraisal drilling (to establish the quality, quantity and other characteristics of oil or gas in the newly discovered field), as well as well-testing to measure and evaluate the production and characteristics of the oil or gas from the discovered wells.
Invictus said it will adopt a sequenced approach to the development and commercialisation of the Mukuyu field, commencing with a pilot project to provide proof of concept ahead of a full field development.
The discoveries marked a major step towards energy security for Zimbabwe and opened new opportunities for economic growth and development, downstream industries, employment creation, improved export earnings and Government revenues.
Condensate, which Invictus has discovered, has many uses that include fuel production, petrochemical input, dilution of heavier oils, and heating. It is amenable to many opportunities for use in various processes and industries.
Given the Southern African Development Community region is currently haunted by energy supply challenges, the Invictus oil and gas project provides a promising opportunity for Zimbabwe to export excess electricity.
Apart from energy self-sufficiency, President Mnangagwa is on record saying other potential benefits from the oil and gas discovery include electricity generation, as well as production of liquefied petroleum gas, fertiliser and petro-chemicals.
Following the successful exploration drilling conducted at Mukuyu-1 and Mukuyu-2 wells in Mbire, Invictus is continuing with further test drilling at its Musuma prospective area in Dande next year.
The ongoing investment is expected to yield significant new employment opportunities in the petroleum industry.
In an interview GeoAssociates director Mr Paul Chimbodza whose company is the licence holder for the 700 000-hectare prospective area, told The Sunday Mail Business last week that once extraction commences, significant employment opportunities would be created in primary production, midstream and downstream industries.
“Employment in the primary production, midstream (pipelines and storage) and downstream (gas-to electricity, and gas-to-fuel) runs into thousands and can reach up to 10 000 employees across the value chain,” he said.