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
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
cancel anytime
Already a a subscriber Sign In
