Oil & Gas Megaproject In Zimbabwe: Invictus "Encouraged" By Results From Seismic Survey

2 years agoSat, 06 Nov 2021 13:05:48 GMT
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Oil & Gas Megaproject In Zimbabwe: Invictus "Encouraged" By Results From Seismic Survey

Australian Securities Exchange-listed Invictus Energy Ltd (Invictus) this week announced the completion of a crucial 2021 seismic survey as part of exploration at its Cahora Bassa oil and gas megaproject in Zimbabwe.

Invictus managing director Scott Mcmillan said completion of the seismic survey which started in September marks a significant milestone for the company in its exploration programme in the Cahora Bassa basin.

He said the quality of the high-resolution seismic data acquired is excellent and provides great insights into the petroleum potential of the basin.

The seismic data processing and interpretation is ongoing; once completed will enable us to identify and mature additional prospects and leads. The better imaging over the giant Muzarabani structure is very encouraging and once the interpretation of the full dataset is completed, we expect to refine the location for the basin opening Muzarabani-1 well which is scheduled to be drilled in 1H 2022.

In a statement, Invictus said the survey at 839.5 km significantly exceeds the company’s minimum work programme obligations of 300 km of 2D seismic data for the current licence period which runs to June 2024.

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The Cahora Bassa 2021 seismic survey (“CB21 Survey”) has been completed with a total of 839.5 km of high-resolution 2D seismic data acquired. A total of 402.2 km of data was acquired in (Special Grant) SG 4571 and following approvals, a further 437.1 km of contiguous data was acquired in an existing application area.

The miner said the remaining geophone retrieval was completed on November 2 and final data harvesting will be completed “in the coming days.”

The company’s asset portfolio consists of a prospective licence, Special Grant 4571, in the Cahora Bassa Basin in Zimbabwe. The company believes the Cahora Bassa Basin in Zimbabwe is one of the largest under-explored interior rift basins on the African continent.

More: The Independent



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