By Business Reporter | In a turn of events, the Australian energy exploration company, Invictus Energy, has responded to recent reports surrounding their quest to confirm an oil discovery in northern Zimbabwe. The company issued a statement refuting the claims made in an earlier story and shedding light on the current status of their drilling operations.
Invictus Energy emphasized that the initial story was “highly premature and incorrect.” According to the company’s official statement, they are still actively drilling towards their target depth of 3,750 meters at the Mukuyu-2 site in the Mbire district, Mashonaland Central province.
The company clarified that their ongoing drilling operation is part of their efforts to obtain crucial data and confirm the existence of a viable petroleum system. They also mentioned their intent to retrieve a fluid sample via wireline, which can only be done once the drilling process has been completed.
Invictus Energy expressed optimism regarding the data they have collected so far, highlighting the presence of background gas at Mukuyu-2 exceeding that observed at Mukuyu-1. They have also detected heavier hydrocarbons, which further support the existence of an active petroleum system in the Cabora Bassa Basin.
The company’s Mukuyu conventional gas-condensate prospect is considered one of the largest undrilled onshore prospects in Africa, with estimated reserves of over 20 trillion cubic feet and 845 million barrels on a gross mean unrisked basis.
The failure to recover a fluid sample during their previous drilling attempt represents a significant setback for Invictus Energy. The company acknowledges the importance of this procedure in confirming a commercial discovery, which could have far-reaching implications for Zimbabwe’s energy landscape and economy.
In light of these developments, Invictus Energy is expected to regroup and explore alternative approaches to provide the necessary evidence for their groundbreaking findings in the pursuit of energy security and economic growth.
The potential commercial discovery of oil and gas in Zimbabwe remains a topic of significant interest, as it could address the nation’s power shortages, create jobs, stimulate new industries, and boost export revenues, as previously highlighted by President Mnangagwa.
Invictus Energy’s response underscores the importance of patience and thorough exploration in the process of confirming such a significant discovery. The company will continue its efforts to bring about positive change in Zimbabwe’s energy sector.
Please note that this is an evolving story, and further updates may follow as the situation develops.