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Zimbabwe confident about sizeable oil and gas deposits

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Zimbabwe hopes substantial oil and gas discoveries will boost its struggling economy. Image credit: Leon Louw for WhyAfrica

Zimbabwe confident about sizeable oil and gas deposits

Zimbabwe’s Deputy Minister of Energy and Power Development, Magna Mudyiwa says that the country is close to making a significant oil and gas discovery, which will open a new chapter for Zimbabwe.

An in-country exploration campaign is currently underway in Zimbabwe and has revealed encouraging results. According to Mudyiwa, the country is inching closer to making a major discovery. “Zimbabwe is on the cusp of finding substantial oil and gas reserves which will enable is to join other producing African countries,” says Mudyiwa.

Mudyiwa adds that other African countries like South Sudan will play a critical role in supporting the growth of Zimbabwe’s oil and gas industry. Mudyiwa attended the South Sudan Oil & Power (SSOP) conference (https://apo-opa.info/3N3J35a) in Juba last week.

Achieving energy security (Zimbabwe confident about sizeable oil and gas deposits)

Australian-listed oil and gas company Invictus Energy is currently conducting exploratory work in Zimbabwe’s Cabora Bassa Basin, with resources having already been confirmed.

As a country that relies heavily on refined petroleum product imports, the discovery and development of domestic hydrocarbon resources will significantly aid in achieving energy security, while reducing import costs and stabilising supply.

“The prospect is exciting and will positively impact our economy. Should sufficient quantities be found, Zimbabwe will be able to produce liquid fuels from local resources,” says Mudyiwa.

A lot to learn from South Sudan (Zimbabwe confident about sizeable oil and gas deposits)

Ahead of anticipated exploratory success, Mudyiwa says that Zimbabwe has a lot to learn from South Sudan, who has done a lot of exploration in the past.

The two countries already enjoy strong bilateral ties in the education sector, with various programs underway including internships, exchange programs and funding.

However, Mudyiwa believes that cooperation can be strengthened to include training and capacity building in oil and gas, given our country’s limitations in oil and gas production, an area where South Sudan is experienced. “Zimbabwe has identified this area as an important avenue for cooperation,” says Mudyiwa.

“South Sudan is an amazing case study and can offer advice on regulations, structures and law, handling of environmental issues that rise due to oil and gas production, and appropriate technology for optimized oil recovery,” says Mudyiwa.

“In this context, the SSOP 2023 summit – organised by Energy Capital & Power – is a key avenue to foster dialogue and strengthen relations between the two countries.  “As a country, we would like to capitalise on the opportunities offered through participation at this forum,” Mudyiwa concludes.

Zimbabwe confident about sizeable oil and gas deposits

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Zimbabwe confident about sizeable oil and gas deposits

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