Incredible! Invictus Energy discovers significant oil, gas and helium reserves in Zimbabwe

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Inspenet, May 12, 2023

Invictus Energy Ltd. this week announced commercially viable oil, gas and helium discoveries at its Mukuyu-1 drilling site off the coast of Zimbabwe, a development that could pave the way for the southern country’s first gas production. Africa.

The Australian company said mud gas analysis had shown the presence of hydrocarbons in multiple pay zones or deposits that may generate revenue.

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“Analysis shows the presence of light oil and natural gas-rich condensate, with gas condensate rates estimated to be between 30 and 135 barrels per million cubic feet,” managing director Scott Macmillian said in a news release.

“The samples analyzed demonstrate a consistent and high-quality natural gas composition, exhibiting low inert content and containing less than 1% CO 2[dióxido de carbono] .

“In addition, the presence of helium gas in commercial concentrations in multiple reservoir units is comparable to helium-producing fields globally and provides an additional high-value byproduct.”

Helium is a key component in the manufacture of semiconductors, liquid crystal display (LCD) panels, and fiber optic cables.

Mud gas tests showed commercial helium concentrations of about 0.1 percent. “Commercial production typically requires helium concentrations between 0.04 and 0.35%,” Invictus said in the announcement.

1796 Invictus Energy confirma hallazgo de petroleo interna

Invictus Energy’s Zimbabwe oil, gas and helium finds: an opportunity for the southern African country

The finds were made in the Cabora Bassa basin, where Invictus has an 80 percent interest to develop “one of the last large untested boundary rift basins off the coast of Africa.” The company’s license area was expanded to a total of 360,000 hectares by the Zimbabwe Sovereign Wealth Fund in August 2022.

Mukyu is “the largest onshore undrilled prospect in Africa with an independent estimate of 20 Tcf[billones de pies cúbicos] + 845 million barrels (gross average without risks) of conventional gas condensate”, says Invictus on its website.

Invictus Energy is “on track to drill the Mukuyu-2 appraisal well in Q3 2023, targeting multiple hydrocarbon loading intervals (gas-condensate and potentially light oil) encountered in the Mukuyu-1/ST1 well in Upper Angwa, Pebbly Arkose. and the Post Dande formations,” Macmillian said April 6 in Invictus Energy’s announcement of the direct sale of shares to private investors.

Source : https://petrobanca.com/invictus-ataca-petroleo-y-gas-en-zimbabue/

Photo : Facebook Invictus Energy – Mukuyu-1 drilling site

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