
HARARE – Invictus Energy Ltd has confirmed the renewal of its Special Grant 4571 licence, granting the company an additional three years to pursue its high-impact oil and gas exploration activities in Zimbabwe’s Cabora Bassa Basin.
The extension, approved by the Minister of Mines and Mining Development, empowers Invictus to advance its exploration program, which includes conducting 3D seismic acquisition and further drilling. These activities are expected to enhance the company’s strategic position in the energy sector and bolster stakeholder confidence.
Focus on Sub-Saharan Africa
Invictus Energy, an independent oil and gas exploration company, is dedicated to uncovering significant energy resources in sub-Saharan Africa. Its operations in Zimbabwe, particularly in the Cabora Bassa Basin, include the Mukuyu gas field and other promising Basin Margin prospects.
The renewal comes at a pivotal time for Invictus, as the company aims to unlock Zimbabwe’s potential as a key player in the regional energy landscape.
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This licence renewal underscores the Zimbabwean government’s commitment to supporting energy exploration, paving the way for Invictus Energy to solidify its footprint in the region.
As the company progresses its work program, industry observers will be watching closely for the outcomes of its exploration activities and their potential impact on Zimbabwe’s energy sector and economic growth.
Source: TipRanks