Invictus advances commercialisation of Zimbabwe’s Cabora Bassa gas
Three gas supply MoUs covering more than 1 Tcf strengthen the commercial outlook for the Australian energy company’s Cabora Bassa project as it prepares for further exploration and appraisal drilling
Australian – based oil and gas company Invictus Energy is advancing plans to commercialise gas from Zimbabwe’s Cabora Bassa Basin after agreeing three memoranda of understanding (MoUs) for potential gas supply to major power and petrochemical customers in the country.
According to a report shared by Invictus on LinkedIn, the three MoUs collectively represent more than 1 trillion cubic feet (Tcf) of gas, providing a potential offtake base as the company moves from exploration towards appraisal and development.
The Cabora Bassa project in northern Zimbabwe is anchored by the Mukuyu gas-condensate discovery, which Invictus describes as a multi-Tcf gas discovery.
The company said consultancy Wood Mackenzie estimates the Mukuyu discovery at approximately 1.3 Tcf of gas and 230 million barrels of oil equivalent (MMboe) of liquids.
Invictus holds a dominant acreage position in the basin, with its Cabora Bassa licence areas covering approximately 360,000 hectares. The company has identified several additional prospects along trend, providing further targets for exploration and appraisal.
The next major drilling target is Musuma, with Invictus planning to drill the Musuma-1 exploration well later in 2026.
Musuma is targeting the Dande Formation and has an estimated prospective resource of approximately 1.2 Tcf of gas and 73 million barrels of condensate, based on the company’s gross mean unrisked estimate.
The planned drilling comes as Invictus seeks to build on the results from its Mukuyu exploration campaign and establish the scale and commercial potential of additional resources within the basin.
The company said its existing funding is sufficient to complete its current drilling programme, but additional capital will be required to progress discoveries through to development.
Potential funding mechanisms include farm-outs and the sale of equity to strategic investors, according to Invictus. The company has also received support from existing shareholders, including the Zimbabwe Sovereign Wealth Fund.
