Zimbabwe made a deal with Invictus Energy that combines two oil agreements into one simple framework. The company leaders visited Zimbabwe last month to meet with officials about speeding up their Cabora Bassa Project. Both sides agreed that joining the agreements would create clearer rules as the project moves from exploration to production.
Invictus picked Musuma as their next drilling spot after finding gas at Mukuyu. The company expects Musuma will be cheaper to drill because they can use a vertical well to reach gas that appears close to the surface. Success there could open new areas for development across the region.
The company discovered major gas reserves in Mashonaland Central Province last year. These finds might help Zimbabwe fix its 2,200 megawatt power shortage. Invictus already signed deals to supply 12 megawatts to Eureka Gold Mine and 500 megawatts to Mbuyu Energy.
Experts ranked the Mukuyu discovery as the second-largest petroleum find in Africa in 2023. The area holds about 230 million barrels of oil or 1.3 trillion cubic feet of gas. Some estimates suggest the field might contain up to 20 trillion cubic feet of gas when fully explored.
Invictus picked Musuma as their next drilling spot after finding gas at Mukuyu. The company expects Musuma will be cheaper to drill because they can use a vertical well to reach gas that appears close to the surface. Success there could open new areas for development across the region.
The company discovered major gas reserves in Mashonaland Central Province last year. These finds might help Zimbabwe fix its 2,200 megawatt power shortage. Invictus already signed deals to supply 12 megawatts to Eureka Gold Mine and 500 megawatts to Mbuyu Energy.
Experts ranked the Mukuyu discovery as the second-largest petroleum find in Africa in 2023. The area holds about 230 million barrels of oil or 1.3 trillion cubic feet of gas. Some estimates suggest the field might contain up to 20 trillion cubic feet of gas when fully explored.
