The Australian-listed oil and gas company has made a substantial gas discovery at the Mukuyu-2 well in Zimbabwe, unlocking newfound opportunities for energy security and industrialization.
A milestone for both the country and regional energy sector at large, independent oil and gas company Invictus Energy has announced a gas discovery at the Mukuyu-2 well in Zimbabwe. The discovery builds on successful drilling activities conducted at the Mukuyu-1 well in 2022 and has opened up a new resource basin. For the country, the discovery is poised to unlock a wave of economic benefits while positioning Zimbabwe as the next major onshore hydrocarbon player.
The Cabora Bassa Project, located in Zimbabwe’s Mashonaland Province, represents one of the final African Rift basins. Invictus Energy drilled the first well of its upstream campaign in the area – Mukuyu-1 – in 2022, the results of which identified 13 hydrocarbon bearing zones and a proven working petroleum system in the basin. This was shortly followed by the drilling of the Mukuyu-2 well, spudded in Q3, 2023. With the gas discovery at Mukuyu-2, Invictus Energy will progress with drilling, having contracted the rig for an additional two years.
Scott Macmillan, Invictus Energy Managing Director, explained that, “We have successfully recovered a total of four hydrocarbon samples from two zones within the Upper Angwa reservoirs. This is the first Triassic age discovery in sub-Saharan Africa and one of the most significant developments in the oil and gas industry in onshore southern Africa for many decades.”
For a country faced with significant energy deficits and an energy access rate of 62%, the discovery represents a transformative opportunity for Zimbabwe. Heavily reliant on imports from neighboring countries as well as domestic coal to sustain its economy, natural gas is poised to address this deficit in the country, with opportunities such as gas-to-power providing much-needed relief to the growing economy. To achieve universal access to electricity as defined by its national development goals, significant investments will need to be made towards Zimbabwe’s power infrastructure. Revenue from gas production will enable the government to redirect capital to this area as well as other critical segments of the economy.
At the same time, the country is making considerable efforts to accelerate both an energy transition and industrialization, leveraging its abundant mineral, manufacturing and workforce capacity to transform the economy into a regional hub. On the industry side, major sectors such as farming, forestry, and manufacturing have the potential to stimulate long-term economic benefits. In order for Zimbabwe to grow these respective markets, the country will require energy, with gas poised to serve as a catalyst for economic transformation. Gas unlocks opportunities through gas-to-petrochemicals and fertilizer production, strengthening various sectors while opening job opportunities and beneficiation, thereby supporting socioeconomic development.
Meanwhile, with the newfound gas, Zimbabwe will not only be in a position to achieve its development objectives but help address regional demand for clean energy. Zimbabwe holds the largest lithium reserves and mines in Africa, representing one of the biggest producers worldwide. The country is also rich in gold, nickel ore, platinum group metals and diamonds, making the country an attractive market for investment. As global demand for clean energy technologies and minerals grows, gas will power Zimbabwe’s mines, increasing production as well as the country’s contribution to global markets.
“The African Energy Chamber (AEC) commends Invictus Energy for the company’s ongoing commitment to Zimbabwe and its oil and gas potential. The discovery marks a milestone for the country and is a testament to the instrumental role independent oil and gas companies play in Africa’s energy future. This is a great opportunity for Zimbabwe, with newly discovered gas set to unlock a wave of economic benefits for the domestic and regional economy. We look forward to the results of the Mukuyu-2 well and eagerly anticipate the future role Zimbabwean gas will play in developing and industrializing southern Africa,” stated NJ Ayuk, Executive Chairman of the AEC.
Through gas, Zimbabwe will be able to power homes and mines while significantly reducing a reliance on imported power. Gas will also accelerate the country’s transition to cleaner source of fuel, reducing the reliance on coal-fired power generation and providing much-needed fiscal relief. In summary, natural gas is the solution Zimbabwe needs to economically thrive.
