- Invictus energy begins seismic study
- Study to be carried out in the Cahora Bassa region
Invictus Energy is set to begin exploring for oil and gas in the Zimbabwean region of Cahora Bassa. The energy firm will carry out the seismic study in the region in the first week of September. The study aims to determine the existence of hydrocarbons in the study area.
This seismic study, which will be the regions first in 30 years, will be carried out by the Canadian firm Polaris Natural Resources. The seismic data processing contract was also awarded to Canadian firm Earth Signal Processing Ltd. Both firms were awarded the contract for the studies by Invictus Energy following a competitive tender process.
Managing Director Scott MacMillan speaking on the development, said, ”The company is pleased to be commencing the seismic data acquisition in the coming days and the preparation for this campaign has gone well and all the equipment and personnel heading to the field,”
The administration of President Mnangagwa, aiming to increase mineral exports to $12 billion in 2023, approved the establishment of the Petroleum Exploration Development and Production Agreement (PEDPA) with Invictus Energy. The agreement highlights the framework for exploration, appraisal, development and production phases for the Cabora Bassa oil and gas project.