By Owen Mandovha
THE massive interest by foreign investors in various sectors of the economy is bearing fruit, with Zimbabwe slowly moving towards a new era of energy self-sufficiency.
This comes at a time when Australian firm, Invictus Energy has started drilling for oil and gas at the Mukuyu Well in the Muzarabani Basin.
The process is expected to last for between 50 and 60 days.
“The drilling started this Friday and we are going to take about 50 to 60 days to complete the drilling of the Mukuyu Well to an estimated depth of 3,5 kilometres. Two companies have been engaged here, that is Exallo Drilling from the Poland and Baker Hughes from USA. After this, we are going to drill another well called Baobab to complete this exploratory drilling phase,” said a drilling supervisor at Invictus Energy.
Two of the first six students pursuing petroleum studies at the University of Zimbabwe are part of a contingent of experts from countries like Australia, Poland, Nigeria, Kenya, Tanzania, Indonesia and the United States who are undertaking the critical process.
Invictus Energy executive director Mr Paul Chimbodza is looking forward to a basin appraisal once the drilling phase is complete.
“We are quite confident of a commercial discovery and if all goes well, meaning that if these turn to be good wells, we will further pursue other targets that we have identified for drilling and this includes an appraisal of the entire basin,” he said.
The Muzarabani Oil and Gas Project is expected to catapult the country into a league of major oil and gas producers on the back of policy reforms instituted by government to easily attract foreign capital through a deliberate policy thrust to achieve an upper middle-income society by 2030.