Zimbabwe Enters Oil and Gas Era with First Production Sharing Deal for Invictus Energy’s Cabora Bassa Basin Project
Zimbabwe has signed its first-ever petroleum production sharing agreement with Invictus Energy for the Cabora Bassa Basin, marking a major milestone in the country’s upstream oil and gas sector.
The agreement covers development rights linked to the Mukuyu gas discovery and represents Zimbabwe’s initial formal step into production sharing arrangements for hydrocarbons exploration and development.
The Cabora Bassa Basin project is considered highly prospective, with estimates indicating it could contain up to 1.2 trillion cubic feet of natural gas, around 73 million barrels of condensate, and more than 5.5 billion barrels of oil equivalent potential.
If fully developed, the resource base could significantly enhance Zimbabwe’s long-term energy security, reduce reliance on imported fuels, and create new opportunities for industrial growth and domestic power generation.
The deal strengthens Invictus Energy’s position as a key upstream operator in Zimbabwe and advances efforts to commercialise one of Southern Africa’s most closely watched frontier energy basins.
