- Invictus Energy (IVZ) awards an integrated well services contract to Baker Hughes as drilling nears at the Caborra Bassa project in Zimbabwe
- The global oilfield service provider has been contracted to undertake a number of processes including the installation of wellhead equipment and project management
- ERC Equipoise has also been appointed to conduct an independent prospective resource update for the project
- The first well is reportedly on track to spud in the first half of this year
- Company shares last traded 14.8 per cent higher at 15.5 cents on February 10
Invictus Energy (IVZ) has awarded an integrated well services contract to global oilfield service provider, Baker Hughes for its Caborra Bassa project in Zimbabwe.
The project encompasses the Muzarabani Prospect, an 8.2 trillion cubic feet and liquids rich conventional gas-condensate target, which the company said is potentially the largest, undrilled seismically defined structure onshore Africa.
Invictus is in the process of advancing its current exploration program with the acquisition of infill seismic data for a planned drilling campaign.
Following completion of a tender and evaluation process, Baker Hughes has been contracted to undertake cementing, mudlogging, drilling fluids, tubular running, directional drilling and logging, installation of wellhead equipment and project management.
A Letter of Intent has been executed and the contract is expected to be finalised and executed in the coming weeks.
The first well is reportedly on track to spud in the first half of this year, as the company announced in December that it had secured the Exalo Rig 202 to complete the drilling work.
ERC Equipoise has also been appointed to conduct an independent prospective resource update for the project which will incorporate data from a CB21 seismic survey completed in November.
Data will also be included from the reprocessed 1990 vintage Mobil 2D seismic survey for the prospects and leads identified from the seismic interpretation.
Company shares last traded 14.8 per cent higher at 15.5 cents on February 10.