An Australian-listed firm exploring for oil and gasoline in Zimbabwe says it has discovered deposits of each in addition to helium within the Cabora Bassa Basin within the north of the nation.
Invictus Energy mentioned in an announcement that outcomes from an evaluation of samples from drilling performed final 12 months confirmed “the presence of light oil and rich natural gas-condensate, with condensate gas ratios estimated at between 30 to 135 barrels per million cubic feet.”
The outcomes additionally confirmed the presence of helium gasoline “in commercial concentrations,” the corporate mentioned.
Helium is used within the manufacturing of semi-conductors and liquid crystal show (LCD) panels.
Invictus Energy is planning to drill one other exploration nicely in the identical space later this 12 months.
There was no quick remark from the Zimbabwean authorities on the discover.
It could possibly be years earlier than Zimbabwe begins business manufacturing of any of the deposits. Neighbouring Mozambique solely began exporting liquefied pure gasoline final 12 months after discovering reserves off its coast in 2010.
Source: www.perthnow.com.au
