Invictus confirms more gas, oil discovery
OIL and gas exploration firm Invictus Energy says additional Mukuyu-2 downhole sample analysis has confirmed further rich gas-condensate discovery and light oil charge presence.
This follows the discoveries of the two gas from the Upper and Lower Angwa reservoirs in the recently completed Mukuyu-2/ ST1 drilling campaign and the compositional analysis from fasttracked downhole reservoir fluid samples.
The compositional analysis confirmed high quality natural gas containing minimal impurities, which will require minimal processing to prepare for sale to customers.
Condensate gas ratios are estimated between 10-25 barrels per million standard cubic foot of gas across the Mukuyu-2 samples.
“We are extremely pleased with the results from the additional downhole reservoir fluid sample analysis, which confirms a substantial rich gas-condensate discovery at Mukuyu and set up the company for continued success in Mukuyu and the Upper and Lower Angwa geological trend,” Invictus managing director Scott Macmillan said in a recent update.
“The samples demonstrate a consistent, high-quality natural gas composition, with low inert content, less than 2% CO2 (carbon dioxide) and nil H2S (hydrogen sulphide), which will require minimal processing for sale.
“In addition to gas-condensate proven in the Upper and Lower Angwa formations, we have further evidence of the presence of light oil in the Upper Angwa and potentially Dande formation from multiple hydrocarbon source rocks and charge events.”
He said the hydrocarbons present in the Mukuyu gas-condensate field appear from initial analyses to have been generated and expelled from both local source rock intervals within the massive Mukuyu structure and also migrated from other source rock rich areas off-structure.
“These results auger well for the presence of hydrocarbons in the prospects and leads in the remainder of the company’s acreage, which has been de-risked by the Mukuyu gas-condensate discovery,” he noted.
“The gas-condensate composition results are exceptionally positive and exceeded our pre-drill expectations with high-quality, liquids-rich gas with low inerts found in both Mukuyu wells which will allow us to target a low-cost early monetisation development with minimal processing of the gas at surface from the Mukuyu field.”
Recently, the oil and gas exploration firm disclosed that it has received strong interest from multiple domestic institutional investors with the intent of completing a strategic investment into the company after the discovery of gas at Mukuyu field.
As such, Invictus has engaged existing major shareholder Mangwana Capital to coordinate the strategic investment process.
The gas discoveries present economic opportunities for the country including energy security, increased export earnings, job creation, alternative source of government revenue, faster economic growth and development of several downstream industries.
It positions the country as one of the world’s largest future producers of gas.