Zim Now Writer
Global energy research firm Wood Mackenzie has ranked the Mukuyu gas field, discovered by Invictus Energy in Zimbabwe, as the second-largest discovery in Sub-Saharan Africa for 2023. This significant news underscores Zimbabwe's growing potential as a major energy player in the region.
Mukuyu boasts an estimated 230 million barrels of oil equivalent (boe) or 1.3 trillion cubic feet (TCF) of gas, solidifying its position as a major find. Invictus declared two gas discoveries in the field's Upper and Lower Angwa reservoirs in December 2023, contributing two of the seven total discoveries made across the subcontinent last year.
Invictus highlights the "substantial upside" potential for expanding the field's resource base. Further drilling aims to convert prospective resources into contingent resources, ultimately maturing them into reserves. This paves the way for significant development in the Cabora Bassa Basin.
Invictus' dominant 360,000-hectare acreage position within the Cabora Bassa Basin, coupled with its proximity to established infrastructure, presents exciting opportunities for future development. The company possesses a substantial portfolio of drill-ready prospects and leads, positioning it for further discoveries following the success of its initial wells.
Invictus Managing Director, Mr. Scott Macmillan, expressed confidence: "Having Mukuyu recognized as one of the largest discoveries in 2023 confirms our confidence in the quality and scale of this new gas field. There remains significant upside to build on the discovery and convert prospective resources into reserves."
Energy analysts anticipate wider economic benefits for Zimbabwe. The discovery has the potential to create jobs, increase government revenue, and offer cheaper energy sources, propelling the nation's economic development.
Invictus is poised to embark on further drilling campaigns to solidify Mukuyu's potential and explore its extensive portfolio within the Cabora Bassa Basin. Potential partnerships with other companies could accelerate development and bring the field closer to production
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