Invictus awards seismic contract for Zimbabwe gas exploration
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The game is afoot at Invictus’ Cabora Bassa project with the award of a contract to Polaris Natural Resources for the acquisition of at least 400km of 2D seismic.
The seismic survey is aimed at refining the location and path of the Mzarabani-1 exploration well and identify additional prospectivity for the upcoming drilling program.
Polaris – a highly experienced seismic contractor – will begin mobilising the seismic equipment and personnel to Harare in the coming weeks to prepare for the acquisition before deploying to the field.
This follows Invictus Energy (ASX:IVZ) signing the key Petroleum Exploration Development and Production Agreement with the Zimbabwe government in late March.
“Our exploration program is on track, and the significant amount of preparatory work that we have undertaken is paying off,” managing director Scott Macmillan said.
“We are using a very experienced contractor and have put in place a very experienced team to run the program.
“The seismic program will enable us to refine the Mzarabani-1 target defined from the existing seismic dataset and help us fill our prospect inventory ahead of our basin opening drilling campaign.”
Invictus noted that in keeping with Polaris’ 85 per cent local content policy, about 80 local field crew will be trained and deployed for the seismic acquisition approval.
The seismic program, the first to be carried out in Zimbabwe for 30 years, is expected to begin once the rainy season has concluded.
Cabora Bassa has the potential to host multi-trillion cubic feet of gas with current efforts focused on the Mzarabani prospect that was defined from a robust dataset acquired by Mobil in the early 1990s.
The project has been independently assessed to host prospective resources of about 9.25 trillion cubic feet of gas and 294 million barrels of condensate.
Despite its gas potential, Mobil decided not to proceed with further exploration and development as a market for gas did not exist at that time.
This article was developed in collaboration with Invictus Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.