Invictus samples confirm presence of gas and oil

ZIMBABWE is on the brink of being counted as a player in the oil and gas industry, after Invictus Energy Limited samples sent to a laboratory in the United States of America confirmed the presence of not only natural gas, but also light oil condensate.

The natural gas is of high quality with minimal impurities and there is no hydrogen sulphate in the samples, which is an undesirable constituent in oil and gas.

Above all, the oil discovered falls into the light oil classification and this is the oil classification that produces diesel, petrol as well as jet A1, the latest update shows.

Light oil fetches higher prices and requires less refinery purification than heavy oil and produces a higher percentage of diesel and gasoline.
Invictus is on record, saying the country could be sitting on more than 5,5 billion barrels of oil.

A barrel of oil equivalent (boe) is a term used to summarise the amount of energy that is equivalent to the amount of energy found in a barrel of crude oil.

It said the project is one of the largest oil and gas exploration prospects to be drilled globally this year and if successful, could be transformative for the company and Zimbabwe.

In mid-February, down-hole gas samples were sent to the United States for analysis.

Last December, Geo Associates and its partners Invictus Energy and One Gas Resources, successfully declared a gas discovery in Zimbabwe through the ongoing exploration activities in Muzarabani, a development the Government described as a major discovery and represents one of the most significant milestones in the onshore Southern Africa oil and gas industry, for decades.

In 2020, the Government classified the Muzarabani project as one of the priority development projects, which can provide a significant economic benefit to the economy in pursuit of an upper middle-income economy by 2030.

However, the latest laboratory results have seen the firm and the country striking a massive jackpot.
In an update, Invictus managing director, Mr Scott Macmillan, said the analysed samples demonstrate a consistent, high-quality natural gas composition, exhibiting low inert content, containing less than two percent CO2 and nil H2S, which will require minimal processing

“We are extremely pleased with the early results from the down-hole reservoir fluid sample analysis, which confirms a large and rich gas-condensate discovery at Mukuyu.

“The analysed samples demonstrate a consistent, high-quality natural gas composition, exhibiting low inert content, containing less than 2% CO2 and nil H2S, which will require minimal processing.

“The results from Mukuyu-2 are consistent with our geological modelling of the Cabora Bassa Basin and the presence of both light oil and gas-condensate, provides us with confidence as we prepare for the next phase of our appraisal programme and work towards the monetisation of the Mukuyu gas discoveries and further exploration of our exciting portfolio of multiple drill ready prospects, which has been substantially enhanced by the positive results from Mukuyu,” he said.

Reacting to the announcement, Mines and Mining Development Minister, Soda Zhemu said this is no longer discovery of natural gas alone but discovery of light oil as well and it deserves a big toast.

“Today, I wish to give as Breaking news, the fact that results obtained recently from the laboratory analysis conducted do indeed confirm the presence of not only natural gas, but also presence of light oil condensate as well as helium and hydrogen in the Mukuyu deposit,” said Minister Soda.

“The results are that the natural gas is high quality with minimal impurities and that there is no hydrogen sulphate in the samples (which is an undesirable constituent in oil and gas). Above all, the oil discovered falls into the light oil classification. This is the oil classification that produces diesel, petrol as well as jet A1.”

The presence of helium and hydrogen that has also been confirmed, becomes a welcome bonus from the Mukuyu deposit, he added.
Minister Zhemu encouraged the investors to roll out their commercialisation and monetising activities, which they have intimated to the Government to commerce soon.

“In our current discussions, the investors made it clear that they were continuing with the Zimbabwe Cabora Bassa basin wide exploration,” said Minister Zhemu.

“They also made it known to us that they were now focusing on early commercialising and monetising of the declared discoveries while exploration work continues.

“It is no longer the discovery of natural gas alone, but discovery of light oil as well. This deserves a big toast.”
The minister added that the incredible potential of the Mukai field, predetermined even in previous exploration campaigns, has now been confirmed.

“Zimbabwe is on course to be counted as a player in the oil and gas industry.

“There are unimaginable spinoffs for the economy and for Zimbabweans at large from oil and gas extraction and the attendant value chain activities.

“On behalf of the Government, I wish to sincerely congratulate Geo Associates and its partners Invictus Energy and One Gas Resources on the giant step. We do encourage investors to roll out their commercialisation and monetising activities, which they have intimated to the Government to be commencing soon.”

Late last year, Invictus and Mbuyu Energy, signed an updated Gas Sales MOU for the supply of gas for a 500MW gas to power project.
Under the MoU, Invictus would supply gas to Mbuyu to the power project plant, which can be expanded up to 1 000MW in the future with a forecast total demand of 1.4 TCF of natural gas required over 20 years.

The updated MoU is built on the previous MoU signed in December 2019 with Tatanga Energy. The MoU is a precursor to the negotiation of a full long-term gas sale agreement (GSA, to supply sufficient gas to power the proposed plant.

The plant can be expanded in future phases to up to 1 000MW (equating to a forecasted demand of approximately 1,4 trillion cubic feet of natural gas over 20 years).

The company estimates the Mukuyu fields to hold 34,9 trillion cubic feet of condensate gas.
Condensate gases are used for power generation and manufacture of products such as petrol (gasoline), jet fuel, diesel and heating fuels, among other uses.

The discovery of gas is expected to drive Zimbabwe’s economic growth, export earnings, and Government revenue, create new jobs and downstream industries among other positive spin-offs.