By Rudo Saungweme

Exploration studies of oil and gas at Muzarabani area has proved positive.

In a recent development, Invictus Energy Limited has explored oil and gas deposits in Muzarabani. Invictus used data which was generated by Mobil Oil in the early 1990s when extensive oil and gas geo-physical work was undertaken in Muzarabani area.

In a press statement, President Emmerson Mnangagwa said, “Invictus has engaged a number of worldwide professional companies with extensive experience in oil and gas. We have since been advised by Invictus that the findings are positive and point to oil and gas deposits in the area.

“Government of Zimbabwe will work very closely with Invictus to ensure that Invictus realises its plans to sink an exploration well by mid-2020. After the exploration well, the next stage will be commercial exploitation of the resource. In the interim, additional geo-physical work is ongoing to identify further exploration targets. Updates will be given as and when the planned exploration work results come in,” he said.

This development comes at a time Zimbabwe is seeking opportunities to open and revive industries. Government is supporting all projects that are vital for economic development. The mining industry which contributes to Zimbabwe`s exports has been helped with funding and as a result, production has doubled in the mining sector. Zimbabwe’s roadmap of attaining a middle income economy by 2030 is showing light as more projects are coming up.