Australia’s Invictus to Start Drilling for Oil and Gas in Zimbabwe
- August 22, 2022
- Posted by: Quatro Strategies
- Category: Energy
Australia’s Invictus Energy is set to start drilling its first exploration well for oil and gas in Zimbabwe, the company’s Zimbabwean subsidiary announced on Friday. The first well, Mukuyu-1, situated in the Muzarabani-Mbire area, will be 3.5 kilometres (km) deep at a cost of $16 million, the Australian company’s local subsidiary Geo Associates said.
Mukuyu well is part of the Cabora Bassa basin in Zimbabwe, which is 80% owned and operated by Invictus through its subsidiary Geo Associates.
Geo Associates said the drilling will start at the end of this month or the first week of September.
Exploration drilling of the first well will take eight weeks, following which another 1.5 km hole will be sunk.
The Australian company has been looking for oil and gas deposits in Zimbabwe’s Cabora Bassa and Zambezi basins in the past four years.
The planned drilling phase is to ascertain resource availability and the quality of the deposits. There had been some delays to the project due to logistical issues, but Geo Associates said they had not caused serious problems.
Invictus said they were hopeful the first well would bring positive results.
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