Australian oil and gas firm Invictus Energy announced Monday it has found oil, gas and helium in remote northeastern Zimbabwe, a culmination of months of exploration.
The company said that mud gas analysis from the Mukuyu-1 well drilled last year had proved the presence of hydrocarbons in multiple reservoir pay zones.
The analysis conducted confirmed the presence of helium gas in commercial concentrations comparable with global helium-producing fields, according to the company.
Helium is a key component in the manufacture of semiconductors, LCD panels and fibre optic wire.
Invictus said it plans to drill a second well, the Mukuyu-2, during the third quarter of 2023.
The company’s Managing Director, Scott MacMillan explained that the success at Mukuyu-2 and confirmation of a significant discovery will further unlock the value of its material portfolio
