Industrial Supply

Zimbabwe: Invictus in discussions with partners for Cabora Bassa oil-gas development

By David Whitehouse

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Posted on July 19, 2023 06:47

Mukuyu-1 © The Mukuyu-1 exploration well in Zimbabwe’s Cabora Bassa Basin. Photo supplied.
The Mukuyu-1 exploration well in Zimbabwe’s Cabora Bassa Basin. Photo supplied.

Invictus Energy is in discussions with potential partners to help it develop the Cabora Bassa oil, gas and helium project in Zimbabwe, managing director Scott Macmillan tells The Africa Report.

Discussions have been held with majors, mid-tier and large independent producers and some of the talks have continued, Macmillan says. “The industry understands the significance” of the project, he says. “At some point, we will bring a partner in.”

The Cabora Bassa resource has yet to be classed as a discovery due to the inability so far to retrieve fluid samples. The company estimates that the 80% owned prospect in northeastern Zimbabwe may hold 20trn cubic feet of gas and 5.5bn barrels of oil equivalent, which would make it one of Africa’s largest onshore oil and gas resources.

Invictus, which trades on the Australian stock exchange, said in May that light oil, gas condensate, and helium were confirmed at the Mukuyu-1 well. That well has now been plugged and abandoned. Project delays meant that the boreholes there had been open for too long and had started to cave in.

The company has

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