HomeBusinessInvictus’ oil project gets major boost

Invictus’ oil project gets major boost

BY SYDNEY KAWADZA AND JULIA NDLELA

THE Cabora Bassa Project gas and oil exploration has moved a gear up with Invictus Energy signing a memorandum of understanding with EXALO Drilling SA to drill two wells starting in May next year.

Invictus also revealed that early results of the CB21 Seismic Survey campaign resulted in the energy and gas company committing to a two well drilling programme.

The Australian-based company is processing and interpreting recently acquired seismic data with the aim of refining the Muzarabani-1 well location and design while maturing additional prospects to enable the second well back-to-back drilling programme.

“Given the encouraging early results of the seismic processing, the Cabora Bassa partners are confident of identifying and maturing an additional prospect to commit to a 2 well drilling program,” Invictus said.

Under the MoU, Invictus must exercise the option of the additional well by February 15 next year.

“Following extensive evaluation, a number of suitable rig options on both a technical and commercial basis, the company has selected the Exalo #202 Rig for the upcoming drilling programme,” it added.

“A binding rig agreement is anticipated to be signed in the New Year. Exalo personnel recently completed a visit to Zimbabwe to review the potential drilling locations and logistics options.”

Invictus added that the #202 Rig is engaged in drilling operations in Tanzania and will be mobilised to the project once that programme has been completed.

Invictus managing director Scott Macmillan said securing the rig was another clear point of progression towards a maiden drilling campaign.

“We will now proceed to secure the remaining long lead items and services required to commence drilling operations,” Macmillian said.

“We will benefit immensely from inheriting an active drilling rig and crew and a modest mobilisation from Tanzania to the project area.

“The company plans to announce the final drilling location(s) and further details of the exploration programme in the new year.”

Exalo Drilling SA is one of the leading European onshore drilling contractors providing drilling and workover contractor and services provider for the Oil and Gas Upstream and Geothermal sectors with headquarters situated in Pila – north-west Poland.

The company maintains a fleet of 35 rigs of various capacity, which allows for drilling up to 8 000m of depth.

Exalo was created in 2013 by joining forces of five independent companies of the PGNiG Group with nearly 70 years of international experience in operating drilling and well services.

It is also active in Europe, Asia and Africa and has local branches in the Czech Republic, Ukraine, Chad, Kazakhstan, Pakistan and Tanzania while employing more than 1 700 people.

The company provides a full range of professional drilling services and has drilled vast number of wells in various geological regimes and depths worldwide, including H2S content and HPHT wells, minerals and gas storage wells.

It also possesses its own fluid and cement laboratory and workshops, which are carrying out repairs, inspections, modernizations and performance of new machines, equipment and parts production for our rigs.

Meanwhile, the Exalo #202 Rig is a modern IRI 1200 model with a hook-load of 675,000 lbs and 1200 horsepower rating.

This model has a proven track record and has completed projects in Africa, Europe and Asia.

The Cabora Bassa Project encompasses the Muzarabani Prospect, an 8.2 TCF and liquids rich conventional gas condensate target, which is potentially the largest, undrilled seismically defined structure onshore Africa.

The prospect is defined by a robust dataset acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geochemical data.

Invictus Energy is advancing the current exploration program with the acquisition of infill seismic data for a planned 1H 2022 basin opening drilling campaign.

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