Invictus renews SG 4571 licence in Zimbabwe for further three years

Geo Associates, a subsidiary of Australia’s Invictus Energy, has renewed the SG 4571 licence, which is located in Zimbabwe’s Cabora Bassa basin, for an additional three years, the company announced on July 18. 

Invictus owns 80% of Geo Associates, which in turn holds the SG 4571 licence containing the Mukuyu discovery. The renewal has been approved by the Mining Affairs Board, and the exploration licence for the third period of SG 4571 runs until June 2027.

The company plans to undertake a work programme for the third three-year exploration period, including 3D seismic acquisition and additional exploration/appraisal drilling. Invictus is also able to apply for a production special grant licence at any stage.

In March, Invictus reported progress in its appraisal plan of the Mukuyu gas-condensate field at its Cabora Bassa project. Following the two gas discoveries from the Upper and Lower Angwa reservoirs in the recently completed Mukuyu-2 / ST1 drilling campaign, preliminary compositional analysis from the downhole reservoir fluid samples has confirmed a rich gas-condensate discovery in Mukuyu.

In December last year, Invictus inked an updated memorandum of understanding with Zimbabwean consortium Mbuyu Energy for the supply of gas to their proposed 500 MW gas-to-power project. The gas will be supplied from the Cabora Bassa project.