Oz Invictus' Zimbabwe Project Gets Priority Status

Sydney-listed Invictus Energy’s Cabora Bassa project at Muzarabani held through the company’s 80% interest in Geo Associates has been classified as a priority development project by the government of Zimbabwe, the company said January 13.

“The company’s Cabora Bassa project has been classified as one of the key projects within Zimbabwe that can provide a significant economic benefit to the economy in pursuit of the vision of becoming a middle income economy by 2030,” Invictus said.

The Cabora Bassa project encompasses the Mzarabani prospect, a conventional gas condensate target, which, according to the company, is potentially the largest, undrilled seismically defined structure onshore Africa.

Last month, Invictus and its partner, One-Gas Resources, signed a memorandum of understanding with Harare-based Tatanga Energy to progress gas supply from Cabora Bassa project. As per the MoU, the companies will progress gas supply for the 500-MW project in the event of a commercial gas discovery.