The Managing Director Scott MacMillan of Invictus Energy, the Australian Stock Exchange (ASX) listed company has said that Zimbabwe could turn into a net exporter of energy due to the anticipated discovery of gas and oil.
Invictus is currently exploring for oil and or gas in Muzarabani and Cahora Bassa basin and the company has already recorded significant milestones towards the potential discovery of gas and oil from fresh tests and evaluation of secondary data first gathered by global oil giant Mobil in the 90s.
MacMillan said that if gas and oil were discovered in Zimbabwe, Discovery it would mean energy independence for the country which is vital for economic growth and prosperity. He added said:
And for a country like Zimbabwe it would mean that we are no longer reliant on fuel and electricity imports and instead of consuming 25 per cent of our foreign currency importing diesel and petrol if enough is discovered we can turn into a net exporter.
Meanwhile, One Gas Energy, a local player which is in partnership with Invictus Energy for the Muzarabani Oil Project has revealed that legislative issues are delaying the implementation of the Muzarabani Oil Project.
One Gas Energy Executive Director Mr Patrick Chimbodza told ZBC News in January this year that the drilling process to establish commercially viable exploration levels can start later this year if legislative issues have been resolved.
More: The Herald
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WISHFUL THINKING……DIAMONDS CAME AND DEATHS CAME WITH THEM. OIL WILL BRING BLACK DEATH ….MORE DEATHS…..CURSED GREEDY MANIACS WE ARE AS A PEOPLE…… I DOUBT EVEN THE TRUTH OF THIS …
There is no legislative challenge yet but there is nothing yet in place. The exploration was okayed just as to proceed and extract. Dont lie pls
I highly doubt that. Look at the natural resources this country has yet it has 95% unemployment. Interest rates through the roof. A joke really…tell us another one. Not a single credible government in Africa.
Another opportunity for our greedy rulers to loot better live it like that it won’t change anything
“could turn into a net exporter of energy due to the anticipated discovery of gas and oil”, “has already recorded significant milestones towards the potential discovery of gas and oil from fresh tests and evaluation.” All of which means that no gas or oil has been discovered.
This is too nonsensical!!
This shouldn’t excite anyone except for the dictator who is currently running the country. He is worse than Mugabe because he took the country by force and is milking the coubtry dry. Zimbabwe is not a country it is a private company run by the most selfish people on planet earth. This means nothing except that those hooligans who call themselves the ruling party will get away with stealing yet another good thing