Independent upstream oil and gas company, Invictus Energy, has extended its contract with European onshore drilling contractor, Exalo Drilling, for its Rig 202 by up to two years at the Cabora Bassa Project in Zimbabwe.
The extension will enable Exalo Drilling to undertake maintenance on Rig 202, which will remain stacked at the Mukuyu-2 well, providing for the drilling and testing of future wells within the basin.
“The contract amendment…underpins our confidence in the basin and provides us maximum flexibility to accelerate and execute future drilling and testing campaigns,” stated Scott Macmillan, Managing Director of Invictus Energy, adding, “The retention of the rig will result in substantial time and cost savings to the company compared to demobilizing and remobilizing a drilling rig for future campaigns.”
Situated in the Zambezi Valley approximately 300 km from the capital of Harare, the Cabora Bassa Basin holds prospective resources of approximately 20 trillion cubic feet of gas and 845 million barrels of conventional gas-condensate. The Cabora Bassa Project is owned and operated by Invictus Energy with an 80% interest.
