Invictus Energy Ltd, an independent oil and gas exploration company focused on high impact energy resources in sub-Saharan Africa with its headquarters in Perth, Australia, has commenced field operations at the Muzarabani oil and gas project in preparation for the drilling of two test wells later next year.
This comes following the approval of the company’s environmental management plan, the easing of Covid-19 restrictions, and the completion of the final cultural ceremonies in the Muzarabani and Mbire Districts.
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In a press release, the company explained that the program will capture details such as topography, existing access roads, drainage, vegetation cover, soil types, rock exposures, sampling of any natural oil and gas seeps, areas of development (constructions and cultivation), plus any sites of cultural, religious or historic importance.
The impact of the project the southern African country
The successful discovery of oil or gas in Muzarabani will represent a humongous achievement for the southern African country, which is at often times plagued by budget deficits and resource constraints to fund development and key infrastructure projects.
If either oil or gas is found in Muzarabani, the Government of Zimbabwe will get a share of the production, usually, 50-70 percent of the entire output or proceeds thereof, once the investor has recouped their investment.
Apart from exports and the tremendous job creation potential of the project, the Muzarabani oil and gas project would also bring about a cocktail of downstream benefits in the form of new industries, energy security infrastructure development.
Discussions with partners for the drilling process
Invictus Energy said that discussions with multiple farmout parties are ongoing on the drilling process for the Cabora Bassa (Muzarabani) Project which has passed technical review/assessment and is now undergoing commercial evaluation, above ground due diligence, and detailed forward program costing (including drilling cost).
I hope something meaningful is coming out of this. And greedy, selfish politicians must never be allowed lay their hands on these revenues. They must have independent auditors to oversee revenue collection and management processes. If not, this will once more be another cake for Zanu Pf elites and politicians.