Invictus Energy Ltd (ASX:IVZ) Advances Pilot Gas Production with ESIA Approval
ESIA Approval
Invictus Energy Ltd has obtained approval from Zimbabwe’s Environmental Management Agency (EMA) for the Environmental Social Impact Assessment (ESIA) related to pilot production activities at the Cabora Bassa Project. This approval covers gas extraction, liquefaction, and transport from the Mukuyu gas field, as well as future operations across SG 4571 and EPOs 1848 & 1849.
Pilot Production and Gas-to-Power Project
The ESIA approval allows Invictus to commence pilot production activities, including the Eureka Gold Mine Gas-to-Power Project. This initiative involves collaboration with Dallaglio and Himoinsa SA to supply reliable and cost-effective power to the Eureka mine using gas from the Mukuyu field.
Feasibility Study Insights
Preliminary feasibility studies for the Eureka Gas-to-Power Project indicate a high look-through gas price exceeding US$10/GJ for gas-fired power generation based on current grid tariffs. This highlights the Mukuyu gas field’s economic viability as a strategic energy source for Zimbabwe and the region.
Executive Comments
Scott Macmillan, Managing Director, commented:
“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. Invictus remains committed to unlocking Zimbabwe’s gas potential and delivering long-term value to shareholders and the broader region. I look forward to providing further updates as we advance these pilot production activities.”
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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