Australian oil and gas exploration firm Invictus Energy says that it is now ready to commence operations in Muzarabani following the arrival of the first batch of the drilling equipment this morning.
A total of twenty trucks carrying the components left Forbes border post in Mutare enroute to Muzarabani this morning.
Customs clearance delays for the drilling rig in both Tanzania and Mozambique had delayed the prospective drilling for oil and gas in Muzarabani, , with the project now expected to commence in August.
Invictus’s oil and gas prospect in the Muzarabani area is now believed to hold more resources than previously thought after an exploratory assessment by an independent contractor, the company announced on Tuesday.
Invictus Energy, ,recently revealed that new technical tests show that the quantum of the resource is almost 3 times the 2019 estimate. This makes it one of the world’s largest conventional gas exploration projects.
The Australian firm commenced seismic data collection for its Muzarabani project last year in order to identify the best spots to drill exploration well.
The studies yielded positive results as it reveal that the project had a potential to generate 283.2 billion cubic metres of natural gas, , and almost 40 million cubic metres of oil condensate constituting around 250 million barrels.