By Owen Mandovha
The exploration for oil and gas in the Muzarabani Basin has gone a gear up with Invictus Energy confirming positive developments in the preliminary findings.
Invictus Energy contracted Canadian company Polaris Natural Resources to undertake the final seismic survey to determine the exact oil and gas potential of the Muzarabani Basin.
That operation was completed two weeks ago and Invictus Energy Chief Executive Mr Scott McMillan says they are encouraged by the preliminary results and they are already organising a rig contract.
“We have received the latest preliminary results and I can tell you that we are very encouraged that there are large finds of oil and gas. The rig contract is being organised to ensure that exploration takes place in the first half of 2022,” he said.
The final interpretation of the seismic data is underway and will pinpoint the exact location of the well.
In undertaking this massive oil and gas project Invictus Energy noted that the Second Republic’s reform agenda convinced the Australian company to commit to this gigantic project.
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