Field operations has commenced at Muzarabani oil and gas project in Zimbabwe in preparation for the drilling of two test wells later next year.
Invictus Energy Ltd, an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa with its headquarters in Perth, Australia announced the report and said it operations follows the approval of the company’s environmental management plan, the easing of Covid-19 restrictions and the completion of the final cultural ceremonies in the Muzarabani and Mbire Districts.
The field operations will capture details such as topography, existing access roads, drainage, vegetation cover, soil types, rock exposures, sampling of any natural oil and gas seeps, areas of development (constructions and cultivation), plus any sites of cultural, religious or historic importance.
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Share of production
The successful discovery of oil or gas in Muzarabani will represent a huge achievement for the southern African country, which faces budget deficits and resource constraints to fund development and key infrastructure projects.
Upon discovery the Government of Zimbabwe will get a share of the production, usually, 50-70% of the entire output or proceeds thereof, once the investor has recouped their investment. Apart from exports and job creation potential of the project, the Muzarabani oil and gas project would also bring about a cocktail of downstream benefits in the form of new industries, energy security infrastructure development.
Invictus Energy said that discussions with multiple farmout parties are ongoing on the drilling process for the Cabora Bassa (Muzarabani) Project which has passed technical review/assessment and is now undergoing commercial evaluation, above ground due diligence, and detailed forward program costing (including drilling cost).
About US $3.5 million has already been invested towards the preliminary work and processing of secondary data. Petroleum giant ExxonMobil had previously conducted studies in the area and the studies showed encouraging results and potential for the possible existence of oil and gas in the area.
