Full Text: Statement By President Emmerson Mnangagwa On The Discovery Of Oil In Zimbabwe

Below is the statement by President Emmerson Mnangagwa announcing the discovery of oil in the Muzarabani area.

PRESS STATEMENT BY HIS EXCELLENCY THE PRESIDENT OF THE REPUBLIC OF ZIMBABWE,
CDE EMMERSON DAMBUDZO MNANGAGWA

The Government of Zimbabwe has over the last few months worked with, and facilitated INVICTUS Energy Limited which is quoted on the Australian Stock Exchange to undertake oil and gas exploration studies in Muzarabani. INVICTUS is utilising data which was generated by Mobil Oil in the early 1990s when extensive oil and gas geo-physical work was undertaken in the greater Muzarabani area.

As part of its exploration studies, 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. INVICTUS and their partners will be making a statement to their shareholders through the Australian Stock Exchange in a few hours time.

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.

The result as communicated by INVICTUS is an exciting development for our country. INVICTUS has committed itself to enter a production sharing agreement with the Government of Zimbabwe, which will be applicable when the project proceeds to commercial production stage.

I thank you.

01 Nov ember 2018.

Also Read:

Australian Company Confirms Muzarabani Oil Potential

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4 comments on “Full Text: Statement By President Emmerson Mnangagwa On The Discovery Of Oil In Zimbabwe

  1. I wish you can stop the nepotism and adopt the towel of babel style. All the tribes who live in Zimbabwe need to contribute in building Zimbabwe. The Nepotism you have been practising since independence will only lead to a catastrophic result.

  2. It will be a curse just like the bloody diamonds of Chiadzwa. No benefits to the nation at all. Instead it will bring more suffering and death. History will repeat…..Operation Hakudzokwi!!!

  3. We have diamonds, platinum, gold, and “numerous metallic and nonmetallic ores” according to the CIA World Factbook. But who have these resources benefited?
    We are now one of the poorest countries in the world. Who will benefit from trashing the biodiversity of our beautiful scenic landscapes and displacing our wildlife from its natural habitat?
    Not the ordinary Zimbabwean!
    Only corrupt ZANU-PF associates and greedy, selfish multinational corporations.
    It is not worth it. Let’s put our house in order first. By installing a capable, responsible, sensible and sensitive government.

  4. Did these People consider even another option in terms of which company can do this oil mining, does this mean that of all zimbabwean people, both within the borders and outside there is none who could be engaged to establish such a company (there are rich Zimbabweans out there who left the country with their money because of the dead economy), you are always complaining about these developed countries sucking our resources out, so I guese we should brace ourselves for a 500 year oil mining agreement to be given to yet another developed country, we have countries like Libya to learn from.

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