Invictus Energy Limited has executed a revised drilling contract and confirmed a November 2026 spud date for Musuma-1, the first high-impact exploration well to be drilled outside its Mukuyu gas-condensate discovery in the Cabora Bassa Project in northern Zimbabwe.
The company said it has signed a Deed of Variation with Exalo Drilling S.A. for the provision of Exalo Rig 202 to drill the well. The updated agreement also secures the required rig preparation and well services mobilisation work scopes needed to move the campaign into execution.
Invictus Managing Director Scott Macmillan said the revised contract, combined with completed technical and commercial evaluations, now allows the company to confirm timing for the well.
“Following execution of the Deed of Variation with Exalo and commencement of the rig maintenance and readiness campaign we’re pleased to confirm a November spud date for the Musuma-1 well,” Macmillan said.
“Wellpad construction is scheduled to begin next week, evaluation of well services provision is complete and we’re targeting award of these remaining scopes in coming weeks.”
Rig preparation and mobilisation underway
Under the Deed of Variation, Exalo will undertake a comprehensive rig maintenance and operational readiness campaign ahead of mobilisation from Mukuyu to the Musuma-1 wellsite. The program includes critical maintenance to ensure the rig is ready for safe and efficient rig-up and drilling operations. Exalo personnel will work alongside Invictus and Geo Associates drilling teams throughout the preparation and mobilisation phase.
The revised contract formalises both the drilling schedule and scope of work for Musuma-1, with all critical-path activities now underway to support the November start date.
Procurement of the remaining well services is well advanced. Commercial and technical evaluations have been completed and contracts are being prepared for award. Once awarded, service providers will begin inspection, preparation and staged mobilisation of equipment and personnel to the Musuma-1 location.
Construction of the Musuma-1 wellpad and associated civil works is scheduled to commence next week, following the completion of customary cultural ceremonies and traditional protocols with local leaders and host communities. The works will include construction of the wellpad and supporting site infrastructure, as well as upgrades to the road network required to mobilise the rig and associated services.
Musuma-1 is targeting an estimated gross mean unrisked prospective resource of 1.2 trillion cubic feet of gas and 73 million barrels of condensate. It represents one of the most significant undrilled conventional exploration opportunities in the Cabora Bassa Basin.
The well is the first to test a new play type in the eastern portion of Invictus’s acreage, an area where several high-potential prospects have been identified from the CB23 seismic survey.
Macmillan said the well has the potential to materially expand the resource base of the Cabora Bassa Project and complement the earlier Mukuyu discovery. “Musuma-1 is a high-impact exploration well with the potential to materially expand the resource base of the Cabora Bassa Project and complement the Mukuyu gas-condensate discovery,” he said.
“The Company looks forward to providing further updates as we move into the execution phase of the drilling campaign.”
The prospective resource figures are unrisked and have not been adjusted for chance of discovery or chance of development. The estimates were prepared by the company as at 3 September 2024 in accordance with the Petroleum Resources Management System, 2018, using probabilistic methods. The company noted that further exploration, appraisal and evaluation are required to determine whether a significant quantity of potentially recoverable hydrocarbons exists.
