By Owen Mandovha
The exploration for oil and gas in the Muzarabani basin has been given a major boost after the entire Invictus Energy Board visited the site for the first time this Monday with revelations that two wells will be drilled starting in June this year.
Invictus Energy Managing Director Scott McMillan revealed prospects for oil and gas have improved to between 25 to 30 percent on the basis of the recently concluded seismic survey.
“This visit seeks to appraise stakeholders especially the local community on the progress achieved so far and we are happy to day that the seismic survey gathered 200 times more data than what was acquired by Mobil and the interpretation of the data has boosted oil and gas prospects to about 25 to 30 percent from around 10 percent,” said McMillan.
Invictus Board Chair Dr Stuart Lake said two exploratory wells are set to be drilled starting June.
“Invictus is encouraged by the latest seismic survey results and we are going to drill two starting with 1 which will be 2000 meters deep and the other one will 4 kilometres deeper. We have entered into a contract with the company to drill and our expectation is that the process will start this June,” he said.
The drilling rig consisting of at least 200 thirty-tonne trucks is being mobilised from Tanzania where it is undertaking a similar exercise and is expected to arrive in the country by June this year.