INVICTUS Energy Limited is finalising preparations for a pilot production phase at its Cabora Bassa gas and petroleum project in Zimbabwe, following key regulatory approvals and high-level engagements with government, the company has said.
Last month, Invictus, an Australian energy firm, revealed it would amalgamate its Petroleum Exploration Development and Production Agreement (PEDPA) and Petroleum Production Sharing Agreement (PPSA) with the government and fast-track its implementation.
The planned pilot, which includes the Eureka Gold Mine gas-to-power initiative, marks a critical step toward commercialising the basin’s gas and petroleum generating potential.
Invictus’s Cabora Bassa Gas and Oil Project is located in the Muzarabani district of Mashonaland Central Province, northeast of Zimbabwe.
“The board’s visit to Zimbabwe in April allowed us to meet with senior government officials, traditional leaders of local communities, as well as our strategic partners, including the Mutapa Investment Fund. These in-person engagements are critical as we continue to build long-term relationships that support the development of Zimbabwe’s energy sector,” Invictus managing director Scott Macmillan told shareholders in a letter dated May 8, 2025.
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“A major focus of this visit was progressing the Petroleum Production Sharing Agreement with the Government of Zimbabwe. The decision to consolidate the PPSA and the Petroleum Exploration Development and Production Agreement into a single, streamlined framework will simplify administrative processes and strengthen governance as the Cabora Bassa Project moves closer to development.”
He said that the firm hoped to announce the execution of the finalised agreement in the near term.
“Pleasingly, in mid-February, we received Environmental Social Impact Assessment (ESIA) approval for pilot production activities at Cabora Bassa, which include the Eureka Gold Mine gas-to-power project. The ESIA approval is another significant milestone for Invictus and reaffirms our commitment to responsible development in the Cabora Bassa Basin,” Macmillan said.
“We are currently in the process of finalising pilot production planning, securing all necessary permits and advancing discussions with additional potential offtake partners, both domestically and regionally, to expand the pilot project phase.”
The decision to ramp up the potential of the oil and gas project comes at a time when Invictus found another significant gas and oil resource at its Musuma-1 well, a second site within the Cabora Bassa Project, after Mukuyu.
“Musuma is a material target estimated at 1.2 Tcf gas + 73 million barrels of condensate (gross, mean unrisked) and coupled with it being situated at shallow depth (<1,500m), which allows for a simple, low-cost vertical well that can be easily drilled,” Macmillan said.
“Success at Musuma would unlock a significant new resource base in the eastern area of our vast acreage position in Cabora Bassa and provide additional optionality to Mukuyu.
“This would enable fast-tracking of the pilot production project at Eureka Gold Mine (proof-of-concept) and laying the foundation for full field development in the Cabora Bassa Basin, in line with Invictus’ early gas monetisation strategy.”
He said drilling the Musuma-1 well in the east of the company’s licensed area before further drilling/testing in Mukuyu allowed for 3D seismic acquisition over Mukuyu to occur with limited noise interference from drilling operations.
“Following the drilling of Musuma-1, the well will be logged and evaluated. In the case that hydrocarbons are encountered in significant quantities, comprehensive well testing will be the company’s next priority,” Macmillan said.
“A well testing programme (involving flow tests of the reservoir intervals) is designed to measure flow rates, reservoir pressure, and fluid characteristics and will be coordinated with a Mukuyu drilling/testing campaign to realise cost and operational efficiencies.”
Preparations to commence drilling in the second half of the year are well underway.
