News / National
Invictus ready to roll out oil project
09 Nov 2018 at 06:23hrs | Views
Invictus Energy has capacity to handle the multi-billion dollar Cabora Bassa Project that encompasses the Mzarabani Prospect and there is nothing amiss with its funding model, managing director Scott Macmillan has revealed.
This comes as some quarters had questioned Invictus' capacity to meet the enormous financial demands for the Muzarabani Project, which might require billions of dollars if oil is to be discovered.
Invictus has already spent around $1 million in its first year and will spend another $1,5 million or so to conclude the rest of its study work. More funding will, however, be needed if and when the project moves to the drilling stage.
This comes as some quarters had questioned Invictus' capacity to meet the enormous financial demands for the Muzarabani Project, which might require billions of dollars if oil is to be discovered.
Invictus has already spent around $1 million in its first year and will spend another $1,5 million or so to conclude the rest of its study work. More funding will, however, be needed if and when the project moves to the drilling stage.
Source - Business Weekly
