Invictus Energy Limited has completed Cabora Bassa CB23 2D seismic data acquisition with the preliminary field processing showing structural closure at multiple target intervals, the group has revealed.
The energy utility group which is embarking on the first oil and gas exploration in Zimbabwe said the campaign has so far provided business to local suppliers through procurement of goods and services while creating at least 100 jobs.
Invictus is an independent upstream oil and gas company headquartered and listed on the Australian Securities Exchange with offices in Harare.
The energy utility group said 425km of high-resolution seismic data had been acquired on time and within budget.
Commenting on the progress, the group’s Managing Director Scott Macmillan said the company is aiming to mature the leads and add to its material portfolio.
“The new data will provide additional coverage of several exciting leads in the east of the basin that were identified on our CB21 and legacy Mobil datasets.
“Initial field processing of the seismic data demonstrates structural closure at multiple target intervals across a number of leads in the Central Fairway and Basin Margin play,” Macmillan said.
“Following the full processing and interpretation of the new data we are aiming to mature those leads and add to our material prospect portfolio as candidates for future exploration drilling.
“We are extremely pleased with the performance of Polaris and the local field crew who have delivered a high-quality project on time and on budget with excellent health and safety performance and no lost time incidents.
“The successful completion of our second survey in the basin marks a significant milestone for Invictus and we are proud of how we have engaged and involved the local communities and stakeholders which provided over 100 jobs in the delivery of the program.
“With our preparations for the drilling of Mukuyu-2 this quarter well underway, these are exciting times for the company,” he added. – (New Zimbabwe)