Minister Chitando impressed by Invictus oil project
The progress of Australia Stock Exchange-listed Invictus Energy’s Mukuyu oil and gas project in Muzarabani has Minister of Mines and Mining Development Hon Winston Chitando optimistic that the project will be a game changer to economic revival.
Rudairo Mapuranga
The company has reached the 4km depth target plus a 1km horizontal for the main well and is now drilling parallel holes along the main well to enhance evaluations.
Speaking during his official visit to the project to have a more detailed understanding Hon Chitando said the work which has taken place at the Mukuyu Prospect is positive and the government was looking forward to an exciting future.
He also said that President Emmerson Dambudzo Mnangagwa’s open-for-business mantra has made it possible for the country to attract risk capital.
“We have come here to visit Invictus project first sight where they are drilling the first well. We came here to appraise ourselves of the progress which is taking place in the sinking of the Invictus oil and gas project. The results which were released recently by Invictus were positive and we have always been positive from day one that the oil and gas project in this basin is going to yield positive results which will help in the turnaround of the economy. The President’s open-for-business mantra has enabled to help risk capital to flow in.
“The work which has taken place to date is very positive as per their statement and we are looking to a positive result where Zimbabwe will be a hydrocarbon producing country from oil and gas perspective,” Hon Chitando said.
Speaking during the visit Minister of State in the President’s office Hon Monica Mavhunga said the project was a game changer for the province and the government was taking necessary steps to support the project.
“I’m very excited to hear that they have drilled 4km and as a province, we are very excited. This project is a game changer to our province and as the government, we are already putting necessary measures to ensure the project is a success once oil is discovered,” Mavhunga said.
Invictus said the project was on track towards oil and gas discovery and it has received tremendous support from the government.
“We are on track, it’s slightly longer than expected, logistics have been tough but the government has been supportive,” he said.