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Invictus Energy says Zimbabwe has huge oil and gas potential

Invictus Energy says Zimbabwe has huge oil and gas potential

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Research by INVICTUS Energy Ltd. (IEL), a UK-based company, indicates that the company's exploration area may have1,3 billion barrels of oil-equivalent, which consists of 200 million barrels of condensate.

Natural-gas condensate, also called natural gas liquids, is a low-density mixture of hydrocarbon liquids that are present in raw natural gas. It is widely used to dilute heavy crude oil, bitumen, industrial raw materials or as a blending component in the production of gasoline.

The Mzarabani Prospect has grown significantly in its scale and represents one of the largest conventional exploration targets globally. The independent report by Getech has estimated the net mean recoverable conventional potential of the massive stacked Mzarabani Prospect of 1.3 billion boe (barrels of oil equivalent) consisting of 6.5 Tcf (trillion cubic feet) and 200 million barrels of condensate net to Invictus.

The estimate for the primary Upper Angwa target within the Mzarabani Prospect has increased to 4.4 Tcf plus 187 million barrels of conventional gas-condensate on a gross-mean unrisked basis. In addition, the newly identified Msasa Prospect, a new substantial structural prospect within SG 4571, which is also a stacked anticline feature, is estimated to contain 1.05 Tcf and 44 million barrels of conventional gas-condensate on a total gross-mean unrisked basis.

The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations.

These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.

IEL is an Australian firm that came into the country in the second half of last year, having discovered potential and gas deposits in Mzarabani, part of the Cabora Bassa Basin. This was 25 years after American oil and gas conglomerate Mobil carried out similar studies in the area and left.

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