Muzarabani project, one to watch in Africa

13 Jan, 2023 - 00:01 0 Views
Muzarabani project, one to watch in Africa Muzarabani Basin — which borders Zimbabwe and Mozambique — is sitting on the verge of a hydrocarbon boom, set to be unlocked through foreign capital, technology and expertise.

eBusiness Weekly

Business Writer

The Muzarabani oil and gas exploration project being undertaken by Australian -listed company Invictus Energy, has been named by energy-focused investment platform, Energy Capital & Power, as one of the top five projects to watch in the African continent.

Energy Capital & Power is an Africa-focused global leading investment platform for the energy sector.

In its latest update, Invictus Energy’s managing director Scott Macmillan, said the first well, Mukuyu-1, has multiple gas zones and potentially liquid hydrocarbon-bearing intervals interpreted from wireline logs and drilling.

However, due to technical and operational issues, the firm was unable to get the liquid samples that are needed to make a formal declaration of oil and or gas discovery.

Management is, however, not fazed by the developments and is planning a future drilling campaign for at least one firm well in 2023, with further wells to be agreed upon.

Macmillan said the results from the drilling campaign and Mukuyu-1 and sidetrack well has “put us in a strong future position given the petroleum potential of the basin has been proven”.

“We have an exciting portfolio of additional prospects and leads which have been substantially de-risked in addition to Mukuyu.”

This has made the project one of the top five upstream drilling projects in Africa in 2023.

Africa is this year expected to launch several multi-well drilling campaigns.

Canada’s Eco (Atlantic) Oil & Gas located in South Africa is another one that made it into the top five.

Last year, the firm began drilling the Gazania-1 well located in Block 2B offshore South Africa, with a view to uncovering over 300 million barrels of light oil.

Activities at the Gazania-1 well, which is estimated to hold potential resources of approximately 350 million barrels, are expected to continue into 2023.

In the Kavango Basin in Namibia, Canada’s ReconAfrica plans to start drilling of the Wisdom Farm 5-1 in late February, with the drilling rig already on site.

ReconAfrica’s initial work programme has reportedly confirmed the presence of an active petroleum system within the sedimentary basin, which is estimated to hold more than 30 billion barrels of crude oil.

In Chad, London-listed Savannah Energy is spearheading a large-scale, multi-well drilling campaign this year.

The Africa-focused, British independent energy firm has been concentrating on well optimisation and workover activities and plans to drill approximately 12 wells per year from now through 2030.

In Africa’s second-largest oil producer, Nigeria, General Hydrocarbons’ has already embarked on a drilling campaign on OML 120 while Chevron Nigeria JV’s two-year campaign offshore Escravos starts mid-2023.

TotalEnergies will also be conducting deep-water drilling through its planned infill drilling campaign on OML 130.

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