Hopes of finding major gas deposits in Zimbabwe have f lared up again with the completion of a seismic survey of the Cabora Bassa Basin by Australian company Invictus Energy.Situated around 300 kilometres north of Harare, the basin was previously explored by Mobil Oil.It is described as the “largest undrilled structure in onshore A f r ic a”.Reserves are estimated at “8.2 Tcf (trillion cubic feet) + 247 million barrels (gross mean unrisked basis) of conventional gas-condensate in a stacked target,” according to Invictus.Exploratory wells are expected to be drilled during the first half of 2022 after the seismic data has been analysed.If the deposit is viable, it will be a game changer for Zimbabwe and its neighbours, according to Invictus chairman Stuart Lake.Speaking at a recent international event, Lake said: “Southern Africa is facing an energy crisis, with increasing shortages of electricity hampering industry and investment.”Regulations are already in place as the Southern Africa Power Pool (SAPP) enables cross-border electricity trading between 12 countries in the region, with a combined population of 230 million people.The “spine” of the SAPP transmission network runs through Zimbabwe, giving it the greatest access to other member states, according to Lake.The SAPP network provides “virtual pipeline to monetise gas throughout southern Africa with SG 4571 ideally positioned to deliver gas into the power network”, he said.Other uses for the gas include the production of fertilisers, and the supply of liquefied natural gas (LNG) to mines and other users.Conversion of mining equipment from diesel to LNG saves 40% on fuel costs, he said.South Africa’s gas to oil refineries at Secunda and Mossel Bay could also be supplied with feedstock.Condensate could also be exported through Beira.Logistics solutions include pipelines, as well as road and rail haulage.According to Lake, Mobil “moved away” from the deposit during the 1990s because the company was focusing on oil.The investment climate in Zimbabwe had also improved, he said."The new government is pro-business, promoting foreign investment, and has implemented investor-friendly reforms.“The mines minister is a former resources industry executive who understands the needs of the resources sector,” he told delegates.Another important development was the signing on March 26, 2021 of the Petroleum Exploration Development & Production Agreement (PEDPA) between Invictus and the Zimbabwean government.PEDPA provides the framework for progression of the project via exploration, appraisal, development and production phases and the obligations and rights of each party over its lifecycle, according to the compa ny.
