Zimbabwe is poised to make a monumental leap in the energy sector, as Mines and Mining Development Minister Zhemu Soda confirmed the discovery of light oil condensate, gas, helium, and hydrogen in the northern part of the country. This announcement, made on Monday, marks a significant milestone in Zimbabwe’s journey toward becoming an oil and gas producer, with the potential to transform its economy and energy sector.
The groundbreaking news comes from recent laboratory analyses of fluid samples taken from the Mukuyu-2 rig in the Cabora Bassa basin, revealing a rich mix of natural resources. “Today, I wish to give as breaking news the fact that results obtained recently from the laboratory analysis conducted do indeed confirm the presence of not only natural gas, but also the presence of light oil condensate as well as helium and hydrogen in the Mukuyu deposit,” Minister Soda stated, underlining the importance of this find for Zimbabwe.
The Australian exploration firm Invictus Energy, responsible for the drilling efforts in the Cabora Bassa basin, echoed the minister’s enthusiasm. The company highlighted that the findings from the Mukuyu-2 are in line with their geological models and have boosted their confidence in moving forward with the appraisal program. They aim to commercialize and monetize these discoveries promptly while continuing their exploration endeavors.
According to New Zimbabwe, Invictus Energy’s statement reflects a strategic vision for the future: “The results from Mukuyu-2 are consistent with our geological modeling of the Cabora Bassa basin and the presence of both light oil and gas-condensate provides us with confidence as we prepare for the next phase of our appraisal program and work toward the monetization of the Mukuyu gas discoveries and further exploration of our exciting portfolio of multiple drill ready prospects which has been substantially enhanced by the positive results from Mukuyu.”
This revelation is not just a win for Invictus Energy but a potential game-changer for Zimbabwe and the southern African region. In December, the company had already touted a significant gas discovery in the same basin, billing it as one of the most noteworthy onshore oil and gas finds in southern Africa in decades. Zimbabwe’s confirmation of light oil condensate and gas resources presents a promising avenue for energy independence and economic growth. With investors now keenly focused on the early commercialization of these resources, Zimbabwe stands on the brink of entering the global oil and gas market as a noteworthy player.
