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Invictus Energy, an Australian oil and gas company found light oil, gas, and helium in the area near the border with Mozambique. This is a major discovery in northeastern Zimbabwe after months of exploration.
Invictus Energy, an Australian oil and gas company found light oil, gas, and helium in the area near the border with Mozambique. This is a major discovery in northeastern Zimbabwe after months of exploration. According to Invictus Energy’s statement, this discovery proves the presence of hydrocarbons in multiple reservoir pay zones at one of the wells. In addition, the samples analyzed exhibit low inert content and contain less than one percent carbon dioxide, making them of high quality.
The discovery of oil, gas, and helium in Zimbabwe is also a significant win for the current government. Under the agreement with Invictus Energy, the government is entitled to as much as 60 percent of the project’s output. The site contains the largest undrilled structure in inshore Africa, according to the Australian Stock Exchange-listed firm.
With exploration starting in August 2021, this field estimated to hold 20 trillion cubic feet of gas could be the key to Zimbabwe’s first gas production and a potential solution to the country’s electricity shortages. Overall, the discovery by Invictus Energy is a significant milestone for Zimbabwe and a promising sign for the country’s energy future.
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This discovery comes 30 years after US-based ExxonMobil abandoned its quest to secure crude oil in the same area. The discovery could be a turning point for Zimbabwe, a country that has suffered severe power outages of up to 19 hours a day. Invictus Energy signed an exploration, development, and production deal with Zimbabwe in 2018, with plans to build a gas-to-power facility to supply the national grid.
