Invictus signs well services contract with Baker Hughes
Australian energy company Invictus Energy has executed a binding well services contract with Baker Hughes for its drilling campaign in the Muzarabani-Mbire area of Zimbabwe, it said on May 26. The campaign is scheduled to start end of July.
The contract comes after Invictus signed a letter of intent with Baker Hughes in February for well services in support of the company’s upcoming two-well exploration campaign at the Cabora Bassa project.
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The contract is for services including cementing, mudlogging, wireline, drilling fluids and mud engineering, tubular running, finishing and abandonment, directional drilling and logging, liner hangers, drill bits, reservoir technical services and project management. The scope of the contract also includes the supply and installation of wellhead equipment.
Invictus in March this year announced it had signed a binding drilling contract for the Exalo Rig 202 to perform the drilling work. The drilling rig is expected to mobilise to Zimbabwe in early June from Tanzania where the rig has just completed a three-well programme. The drilling of the first well in Invictus’ campaign is anticipated to commence in July.
The first well in the campaign, Mukuyu-1, will target the Mukuyu prospect, which has been independently estimated to contain 8.2 trillion ft3 of gas and 247mn barrels of condensate, Invictus said.
Invictus on May 23 said that it will raise A$12mn ($8.5mn) by way of a private placement. The funds will go towards the drilling of the Mukuyu-1 well.