Invictus Energy Limited (ASX:IVZ) has received approval from the Zimbabwe Environmental Management Agency (EMA) for the Environmental Social Impact Assessment (ESIA) covering pilot production activities at its Cabora Bassa Project.
The latest move paves the way for the development of the Mukuyu gas field and broader exploration areas within Special Grant 4571 (SG 4571) and Exclusive Prospecting Orders (EPOs) 1848 and 1849. The license issued following the approval is No: L10000062291.
The ESIA encompasses gas extraction, liquefaction, and transport, including the Eureka Gold Mine Gas-to-Power Project, a collaboration with Dallaglio (owner of Eureka Mine) and Himoinsa SA (onsite power generation provider).
The project aims to utilise Mukuyu’s gas resources to provide reliable power to the mine. Invictus and Himoinsa are working with technology providers to finalise gas processing, liquefaction, and logistics solutions for the feasibility study currently underway.
Preliminary findings from the Eureka gas-to-power project feasibility study suggest a competitive gas price exceeding US$10/GJ for gas-fired power generation, based on existing grid tariffs.
This, according to the Victoria Falls Stock Exchange listed company, indicates the potential economic viability of the Mukuyu gas field for power generation in Zimbabwe and the region.
The approved ESIA builds upon a comprehensive 2019 assessment, one of the largest environmental studies conducted in Zimbabwe.
The original study included extensive field surveys and baseline data collection across various disciplines, including hydrology, ecology, environmental and archaeological assessments, hydrogeological and soil surveys, and socioeconomic and community consultations.
Key stakeholders, including local leaders, government ministries, and government extension offices, were involved in the process.
Invictus Energy Managing Director Scott Macmillan stated that the ESIA approval is a crucial step, enabling the company to finalise pilot production planning, secure remaining permits, and pursue discussions with potential offtake partners.
“The ESIA approval is a critical milestone for Invictus, and paves the way for the future development of the Mukuyu gas field and broader exploration license areas.
“We will now finalise pilot production planning, secure all necessary permits, and advance discussions with additional potential offtake partners,” Macmillan stated.
Invictus Energy is an independent upstream oil and gas company listed on the Australian Securities Exchange. Headquartered in Perth, Australia, with offices in Harare, Zimbabwe, the company is focused on developing the Mukuyu gas discovery in the Cabora Bassa Basin.
