Page 14 - AfrOil Week 05 2021

AfrOil PROJECTS & COMPANIES AfrOil

Invictus Energy gears up to award

contract for 2D seismic survey

MOZAMBIQUE AUSTRALIA’S Invictus Energy said last week available once the parties were able to hammer
that it was gearing up to award a contract for out a binding agreement.
a 2D seismic survey at Special Grant 4571, a The company went on to say that an
licence area located in Zimbabwe’s Cabora Bassa inter-ministerial committee established by Zim-
Basin. babwe’s government had completed its review
In an update on its activities in the fourth of the final version of the Petroleum Explora-
quarter of 2020, Invictus reported that it had tion Development and Production Agreement
selected a preferred contractor for the collec- (PEDPA) covering Special Grant 4571.
tion of at least 400 km of 2D seismic data after “The PEDPA provides the framework for
reviewing multiple bids. It did not name the progression of the Cabora Bassa project through
preferred contractor or specify the value of the the exploration, appraisal, development and
deal, but it did say that it intended to launch the production phases and the obligations and
seismic survey later this year. “The company will rights of each party over the project lifecycle.
commence [a] detailed planning post-formal The company is awaiting execution of the agree-
contract award to enable the acquisition cam- ment,” it stated.
paign to commence following the conclusion of The Australian company’s licence area
the rainy season,” it explained. includes two fields known as Muzarabani and
The survey will be the first of its kind to be Msasa, which may contain as much as 9.25 tril-
conducted in Zimbabwe within the last 30 years, lion cubic feet (261.94bn cubic metres) of natu-
the company added. ral gas and 294mn barrels of gas condensate in
Invictus also reported that it had received a gross mean unrisked reserves. Muzarabani is the
non-binding offer from a company that is inter- larger of the two fields, with 8.2 tcf (232.2 bcm)
ested in gaining a share in the Special Grant 4571 of gas and 250mn barrels of condensate, while
project. It did not identify the potential investor Msasa may hold 1.05 tcf (29.73 bcm) of gas and
but said that further information would be made 44mn barrels of condensate. ™

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P14 www. NEWSBASE .com Week 05 03•February•2021