Invictus Energy has reported a giant upgrade in the prospective gas and condensate resources at its Mukuyu-1 exploration prospect onshore Zimbabwe as it prepares to spud the well next month.
The Australian operator said the Mukuyu-1 prospective resource has been lifted to 20 trillion cubic feet of gas and 845 million barrels of conventional condensate on a gross mean unrisked basis.
The upgrade was determined by the petroleum consultancy ERCE based on new data from the Cabora Bassa 2D seismic survey, which firmed up the potential for multiple stacked hydrocarbon bearing zones in the Mukuyu prospect, said Invictus.
The upgrade marks a 2.7-fold increase on a barrel of oil equivalent basis to the 2019 independent assessment by Getech Group.
The Mukuyu-1 wellpad has been completed, but the full rig arrival has been held up due to customs clearance delays in both Tanzania and Mozambique en route to Zimbabwe.
Drilling is now expected to begin in August.
Invictus managing director Scott Macmillan said: “The Mukuyu prospect… now represents one of the largest conventional exploration targets globally.”
“The Mukuyu-1 well will test seven major targets from the 200 to 650 horizons, including the primary Upper Angwa targets, and provides the company with multiple opportunities to make a material hydrocarbon discovery.”
Macmillan highlighted the newly-identified 200 horizon in the Dande formation has potential for 1.9 Tcf of gas and 77 million barrels of liquids “which provides us with a material first up target in the Mukuyu-1 well”.