Oz Invictus Updates on Zimbabwe Project
Australia-listed Invictus Energy said July 1 its SG 4571 permit in Zimbabwe holds a resource of about 9 trillion ft³ of gas and 300mn barrels of condensate, based on an independent report carried out by Getech.
The Mzarabani prospect is estimated to contain 8.2 trillion ft3 plus 250mn barrels of condensate across five horizons.
Additionally, the Msasa prospect identified in SG 4571 is estimated to contain 1.05 trillion ft3 plus 44mn barrels of condensate across three horizons, Invictus said.
“The Mzarabani prospect has grown significantly in its scale and represents one of the largest conventional exploration targets globally,” managing director Scott Macmillan said.
Meanwhile, Invictus said it has engaged UK based Envoi to run the farmout process for SG 4571. The company has received significant industry interest ahead of the data room opening and is signing confidentiality agreements with several parties, it said.
The company has also engaged the Scientific and Industrial Research and Development Centre to conduct an environmental impact assessment (EIA) of SG 4571. “The commencement of the EIA aims to ensure all necessary pre-drilling permits and activities are completed well ahead of schedule,” Invictus said.
In May, Invictus Energy and its partner in Cabora Bassa project, One-Gas Resources, entered into a non-binding memorandum of understanding with Sable Chemical Industries to supply gas from the project.