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Wednesday, May 8, 2019
Invictus Energy revealed that with its Cabora Bassa Project partner, One-Gas Resources, the company signed a non-binding MoU with Sable Chemical Industries to progress gas supply from the Cabora Bassa Project, located in Botswana, subject to a commercial gas discovery being made from the SG 4571.
Sable is the sole manufacturer of agriculture grade ammonium nitrate fertilizer in Zimbabwe and a potentially large gas consumer.
Under the MoU, Invictus and Sable have agreed to jointly work together and cooperate with regards to investigating the economic and commercial viability of supplying natural gas from the Cabora Bassa Project to the Sable fertilizer plant located in Kwekwe, Zimbabwe.
Invictus Managing Director Scott Macmillan commented, “Signing this MoU with Sable marks a significant milestone in our commercial negotiations as we look to progress the Cabora Bassa Project. Sable is the sole producer of nitrogenous fertilizer in Zimbabweand a well-recognized brand in the country. We are proud to work with them to fulfil their ambition of becoming the preferred manufacturer and supplier of fertilizers and other chemical products in Africa.
The potential gas supply of up to 70 million cubic feet per day for 20 years is a substantial volume which will help underpin the development of any commercial gas discovery we make in the Cabora Bassa Project. This MOU demonstrates the huge local gas demand in an energy starved market in Zimbabwe and we expect to enter into additional gas supply MOUs in the future.”
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