It said an independent report completed by Netherland, Sewell and Associates, Inc. (NSAI), states the Upper Angwa target shows the country has potential for net mean recoverable conventional potential of 850 million barrels of oil equivalent, consisting of 3.9 Tcf and 181 million barrels of condensate or conventional gas.
Invictus managing director Scott Macmillan said: “In simple terms, the 3.9 Tcf of natural gas can give the country 500 megawatts of power for 40 years and the 181 million barrels of conventional gas can give us enough fuel for the next 20 years at current consumption levels of 25 000 barrels a day…..
“This estimate excludes the additional prospective horizons above and below the Upper Angwa in the Mzarabani structure as well as further plays and leads within the SG 4571 area which have the potential to add material prospective resources to the Cabora Bassa Project.
“The high side estimate of over 2.2 billion boe gross is enormous and confirms Mzarabani as potentially the largest undrilled seismically defined structure onshore Africa.”
President Emmerson Mnangagwa announced the oil discovery last week and was accused of doing so prematurely and this misleading the nation which is currently going through a tough period since he won the 30 July elections.
Continued next page