Exploration

Invictus' Cabora Bassa gets National Project Status

Invictus' Cabora Bassa gets National Project Status.

The Cabora Bassa Project by Invictus Energy Ltd has received National Project Status by the Zimbabwe Finance Minister, Mthuli Ncube, and following a series of constructive meetings, the parties have finalised terms of the Petroleum Production Sharing Agreement (PPSA), which is now being prepared for execution

National Project Status is reserved for projects deemed of strategic importance to the country and considered critical to Zimbabwe’s economic growth and development. NPS status provides a range of fiscal and non-fiscal incentives, including duty exemptions, fast-tracked permitting and streamlined access to key infrastructure and services as the project moves towards the development phase.

Invictus, managing director Scott Macmillan, said, “Agreement of the PPSA terms and the granting of National Project Status represent two pivotal milestones for Invictus and the Cabora Bassa Project.

“The PPSA provides the stable and transparent framework required to progress development, while NPS delivers tangible fiscal benefits to reduce costs and accelerate execution.

“This recognition underscores the strategic importance of our discovery and the potential it holds to transform Zimbabwe’s energy landscape.

“These outcomes highlight the Government of Zimbabwe’s strong commitment to unlocking the country’s energy potential. We are grateful for their support and look forward to executing the PPSA and moving towards development of the Cabora Bassa Project.”

Ncube commented, “The Government of Zimbabwe recognises the economic, energy security and social opportunity Cabora Bassa presents.

“We are pleased to be working closely with Invictus Energy through its recent strategic partnership with Al Mansour Holdings and to finalise the PPSA to ensure a transparent, fair and commercially sound
agreement that benefits the people of our nation.

“The Government is committed to fostering a competitive and attractive investment environment, and we are delighted to partner with Invictus Energy as this landmark project advances towards development.”

ReconAfrica advances drilling activities in Kavango West

The company expects to reach total depth by November-end.

Reconnaissance Energy Africa Ltd has provided a drilling update on the Kavango West 1X exploration well

Brian Reinsborough, president and CEO, ReconAf, said, "Our operations team members in Namibia are doing an excellent job on drilling the Kavango West well, both efficiently and safely. Drilling remains on schedule, we expect to reach total depth by the end of November. We anticipate entering the Otavi reservoir, the primary target for the Damara Fold Belt Play, in October and plan to penetrate over 1,500 metres of potential reservoir section before reaching TD. We look forward to reporting results of this play opening well to all stakeholders around year-end."

Following spudding in July, the well is currently drilling the 8.5-inch section at a depth of approximately 1,910 metres. The next, and final, casing string will be set at approximately 2,400 metres before drilling penetrates the Otavi reservoir zone in October. The drill plan includes drilling approximately 1,500 metres of the Otavi reservoir before reaching total depth of around 3,800-4,250 metres by the end of November.

TotalEnergies signs PSC offshore Nigeria

PPL 2000 & 2001 cover an area of approximately 2,000 sq km.

Following the Nigerian Upstream Petroleum Regulatory Commission-organised 2024 Exploration Round, TotalEnergies has signed a production sharing contract (PSC) for operatorship with 80% interest in PPL 2000 and PPL 2001 exploration licenses offshore Nigeria

Other partner in the licenses is South Atlantic Petroleum with a 20% interest.

PPL 2000 & 2001, covering an area of approximately 2,000 square kilometers, are located in the prolific West Delta basin. The work programme includes drilling one firm exploration well.

“TotalEnergies is honoured to be the first international company to be awarded exploration licenses in a bid round in Nigeria in more than a decade, marking a new milestone in our long-term partnership with the country,” said Kevin McLachlan, senior vice-president for Exploration at TotalEnergies.“These promising block captures are fully aligned with our strategy of strengthening our exploration portfolio with drill-ready and high impact prospects, that have the potential for low-cost and low-emissions developments from new discoveries in our core areas of expertise.”

New exploration permit for TotalEnergies in Congo

The permit spans 1,000 sq km and lies 100 kilometers off the coast of Pointe-Noire. (Image source: TotalEnergies)

A new exploration project is brewing in the Republic of Congo as TotalEnergies, alongside QatarEnergy (35%) and the national company SNPC (15%), wins Operatorship with 50% interests in the Nzombo exploration permit

A work programme has been designed to initiate spudding by the year-end so that drilling activities for one of the wells can begin soon after. The permit spans 1,000 sq km and lies 100 kilometers off the coast of Pointe-Noire, close to the Moho production facilities operated by TotalEnergies EP Congo.

"This award of a promising Exploration permit, with the material Nzombo prospect, reflects our continued strategy of expanding our Exploration portfolio with high impact prospects, which can be developed leveraging our existing facilities, and confirms our longstanding partnership with the Republic of the Congo," said Kevin McLachlan, senior vice-president for Exploration at TotalEnergies.

Subsea Technology & Rentals appoints regional director

Image_of_Subsea_Technology_Rentals_regional_director

James Christie, new regional director for Africa and Europe, STR. (Image source: STR)

With a special focus for expansion across Africa and Europe, Subsea Technology & Rentals has made a fresh appointment of a regional director to address strategic growth and full field development experience

Operations in these regions will be managed out of Aberdeen, spearheaded by James Christie, who has been with Ashtead Technology previously, bringing in more than 25 years of industry experience. Christie has also spent more than 10 years of his career with Subsea7 in operational roles.

“James joins us at a hugely exciting time for STR as we continue to grow at pace, diversify our product and service offering and enter new markets. Meeting evolving customer demand remains central to our strategy, with more clients choosing to collaborate with us on new product development programmes, partnering with us beyond traditional rental models.

“James brings a highly strategic approach to growth and full field development experience spanning operations, inspection, and maintenance to decommissioning, which will support our ambition to diversify and strengthen our service offering to our customers,” said Steve Steele, CEO of STR.

Christie's impressive track record of developing strong client relationships and technical prowess will significantly add to STR's consistent market presence with more than US$10mn investments in technology and innovation, and atleast two product launches annually.

“I am thrilled to be joining STR at such a pivotal time as the business has become firmly recognised as a subsea technology leader and continues to invest, creating value for customers and bringing new challenger products to market. I look forward to further strengthening customer partnerships, supporting the growth ambition, and enhancing our focus and footprint across key global regions,” said Christie.

Sidebar