Muzarabani oil and gas exploration license renewed for three years
The exploration for oil and gas by Geo Associates, owned by the Australia Stock Exchange-listed company Invictus Energy, has been granted an additional three years by the government of Zimbabwe through the renewal of their Special Grant (SG).
By Rudairo Mapuranga
According to Invictus Energy, the Special Grant 4571 License was renewed for a further three-year term to allow the company to continue its exploration of oil and gas in the Muzarabani area.
The company plans to undertake a comprehensive work program for this third three-year exploration period, including 3D seismic acquisition and additional exploration/appraisal drilling.
“SG 4571 License containing Mukuyu Discovery renewed for a further three-year term. Geo Associates (Pvt) Ltd (Geo Associates), the Company’s 80% owned subsidiary and holder of Special Grant 4571 has received notification that its application to extend the tenure of the SG 4571 License for a further three years has been approved by the Mining Affairs Board.
“This will be followed by publication in the Government Gazette. The exploration license for the third period for SG 4571 runs to June 2027. The Company plans to undertake a comprehensive work program for the third three-year exploration period including 3D seismic acquisition and additional exploration/appraisal drilling.
“The Company is able to apply for a production special grant license at any stage,” Invictus said.