Invictus secures drilling rig for Muzarabani-1 well in Zimbabwe
Australia’s Invictus Energy has executed a memorandum of understanding (MoU) with Poland’s Exalo Drilling to drill the Muzarabani-1 exploration well in Zimbabwe, it said on December 10. The MoU has an option for an additional exploration well for the basin opening drilling campaign scheduled to start in May 2022.
A binding rig agreement is anticipated to be signed in the new year. The #202 Rig is currently engaged in drilling operations in Tanzania and will be mobilised to the project once that programme has been completed.
Invictus is currently processing and interpreting the recently acquired seismic data from the CB21 survey campaign which concluded in early November with the aim of refining the Muzarabani-1 well location and design as well as maturing additional prospects to enable a two well back-to-back drilling programme.
Under the MoU the company must exercise the option for the additional well by February 2022. “Given the encouraging early results of the seismic processing the Cabora Bassa partners are confident of identifying and maturing an additional prospect to commit to a two-well drilling programme,” Invictus said.
The Cabora Bassa project comprises the Mzarabani and Msasa gas and condensate prospects, which Invictus describes as "world-class multi-trillion ft3" plays. The project received environmental approval from Zimbabwean authorities in August last year.
Meanwhile, Invictus on December 9 executed a farm in option agreement with Cluff Energy Africa for the two well exploration drilling campaign in the Cabora Bassa project. Cluff will fund 33.33% of the costs for a 25% interest in the project and Invictus will remain as operator.