Gas discovery declared in frontier Africa basin — but no resource number yet - Upstream Online
Gas discovery declared in frontier Africa basin - but no resource number yet | Upstream Online
Australian junior Invictus Energy has declared a gas discovery in Zimbabwe with its Mukuyu-2 sidetrack well, although the scale of the find was not revealed.
The well is being drilled in the frontier Cabora Bassa basin and it intercepted gas in the Upper Angwa formation.
Managing director Scott Macmillan said: “The discovery represents one of the most significant developments in the onshore Southern Africa oil and gas industry for decades… opening up one of the last untested rift basins.”
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”