The company said the data gathered had already started providing insights into the oil and gas potential of the
Seismic, an exploration process of gathering subsurface vibrations using advanced technology to determine the existence of hydro-carbons, will enable Invictus to choose precise locations for its oil or gas exploration wells.
This comes as the oil and gas exploration junior expects to commence its high impact basin drilling within the first quarter of next year.
The Australian firm awarded the contract for the seismic campaign to Canadian firm Polaris Natural Resources, which has extensive experience in the area in
The company acquired 839km of high resolution 2D seismic data, 402km in its Special Grant 4571 licence and another 437km of contiguous data in an existing application area.
This is well in excess of
"The completion of the CB21 seismic survey is a significant milestone for the company in our exploration programme in the
"The quality of the high-resolution seismic data we have acquired is excellent and provides great insights into the petroleum potential of the basin."
He added that processing and interpretation of the seismic data was ongoing and is expected to enable the company to identify and mature additional prospects and leads.
"The better imaging over the giant Muzarabani structure is very encouraging and once the interpretation of the full dataset is completed, we expect to refine the location for the basin opening Muzarabani-1 well which is scheduled to be drilled in 1H 2022," Macmillan explained.
The Muzarabani prospect is considered to be the largest undrilled conventional oil and gas prospect onshore
Invictus has already signed a
The PEDPA provides the framework for the progression of the Cabora Bassa project through exploration, appraisal, development and production phases of the project, as well as the rights and obligations of each party over the project life cycle.
He added that other potential benefits of an oil and gas discovery included electricity generation, production of liquid petroleum, liquefied petroleum gas (LPG), fertiliser production and petrochemicals.
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