GLOBAL energy research firm Wood Mackenzie has recognised Mukuyu gas field as the second largest sub-Saharan Africa discovery in 2023, boosting confidence in the quality and scale of this new asset in the region.
The gas field, straddling Muzarabani and Mbire districts, was discovered by Australian firm Invictus Energy Limited.
In December last year, Invictus announced a second gas discovery in the Mukuyu-2 well at its 80% owned and operated Cabora Bassa project in Zimbabwe. The findings in both the Upper and Lower Angwa reservoirs significantly expanded the resource potential in the Mukuyu gas field, marking a major milestone for the firm.
The review also notes regional exploration yielded seven discoveries from 17 wells drilled across the sub-region in 2023, with Invictus accounting for two of the discoveries.
Invictus managing director Scott Macmillan said having the Mukuyu discovery independently recognised as one of the largest discoveries in 2023 and acknowledged among several multinationals, confirmed their confidence in the quality and scale of this new gas field in sub-Saharan Africa.
“There remains significant upside for Invictus to build on the Mukuyu discovery and convert prospective resources in undrilled fault blocks in the Mukuyu field into contingent resources, laying the pathway to mature the reserves through further drilling,” he said in market update yesterday.
“Invictus’ dominant 360 000ha position in the Cabora Bassa basin provides the company with further opportunities to deliver subsequent discoveries from its substantial portfolio of drill-ready prospects and leads following the basin opening discoveries delivered from the first two wells.”
The energy firm declared two material discoveries after recovering a total of 15 downhole gas and gas-condensate samples from both the Upper and Lower Angwa formation targets in the Mukuyu-2/ST-1 well during its December drilling campaign.
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The dual discovery confirmed the incredible potential of the Mukuyu gas field and define a new petroleum province in the Cabora Bassa basin, where the company holds a dominant acreage position of 360 000 hectares in proximity to a high-demand energy market with established delivery infrastructure.
The gas discoveries present economic opportunities for the country, such as energy security, increased export earnings, job creation, alternative source of government revenue, faster economic growth and development of several downstream industries.
This also positions the country as one of the world’s largest future producers of gas.
Invictus, headquartered in Perth, Australia and with offices in Harare, is an independent upstream oil and gas company listed on the Australian Securities Exchange.
