The Australia-Stock-Exchange (ASX) listed firm, Invictus Energy has awarded Canadian firm Polaris Natural Resources a contract to undertake seismic survey (gathering earth vibrations) on its special grant in Muzarabani where it is exploring for oil and gas.
In a statement, Invictus Energy said that Polaris had conducted over 1 000 seismic projects since 1996 and introduced the first “low impact seismic crew” into the Africa continent in 2008.
Polaris has reportedly conducted over 15 projects in East Africa and has been well accepted in all communities where it has operated.
“Polaris will also deploy the world’s newest and smallest wireless recording nodes and receivers,” read the statement.
Invictus Energy managing director Scott Macmillan said: “Our exploration programme is on track, and the significant amount of preparatory work that we have undertaken is paying off. We are using a very experienced contractor and have put in place a very experienced team to run the programme.
“The seismic programme will enable us to refine the Muzarabani-1 target defined from the existing seismic dataset and help us fill our prospect inventory ahead of our basin opening drilling campaign.”
He also noted that the company has raised millions of United States dollars in recent weeks to support the oil and gas project and was very excited to get the exploration programme underway.
Invictus Energy non-executive director Joe Mtizwa said processed data set gathered by French and global oil giant Mobil in the early 1990s had shown strong evidence of potential existence of commercially viable hydrocarbons in Muzarabani.
Polaris chief executive Bill Mooney said: “Polaris is very pleased to support Invictus (Energy) on this world class project. The combination of technologies being employed represent not only the lightest seismic footprint possible, but also allows for very fast and high-resolution data acquisition.”
Polaris intends to conduct, process, and interpret a minimum of 400 line kilometers of 2D (two dimensional) seismic in order to refine the Mzarabani-1 drilling location and well path and identify additional prospectivity for the upcoming drilling exercise.
The proposed seismic survey will be conducted with a minimal environmental footprint and utilise existing roads and tracks wherever possible, Invictus Energy pointed out.
Invictus Cabora Bassa Project, which encompasses the Muzarabani Prospect, is a multi-trillion cubic feet and liquids rich conventional gas-condensate target, which is potentially the largest, undrilled seismically defined structure onshore Africa. The prospect is defined by a robust multimillion dollar dataset acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.
This will be the first time an oil/gas well will be sunk in Zimbabwe with up to US$15 million expected to be spent on each test — well needed to determine the existence and commercial viability of the deposits.
June 30, 2021
Lafarge Cement Zimbabwe’s has recorded an increase in sales, this has been revealed in the…