Australia Stock Exchange (ASX)-listed Invictus Energy, which has discovered condensate gas in Cabora Bassa, in the northern province of Mashonaland Central, has moved its headquarters from Australia to Zimbabwe to facilitate ongoing project growth and development.
The discovered resource from the first two Mukuyu wells is an estimated 1,3 Trillion cubic feet (Tcf) of gas and 230 million barrels of oil equivalent (mmboe).
Across its full license area (including the Mukuyu discovery and other prospects), the total estimated prospective resource is 2,9 Tcf of gas and 184 million barrels of condensate on a gross mean unrisked basis.
Zimbabwe has not yet started commercial gas production because its natural gas project is still in the exploration and development phase, and significant infrastructure needs to be built before commercial extraction can begin.
The discovery of commercial gas deposits is highly important to Zimbabwe as it offers the potential to achieve energy independence, address chronic power shortages, stimulate broad economic growth and industrialization, create jobs, and generate new revenue streams for the Government.
