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Zimbabwe govt wants share in Invictus oil deal

by Staff reporter
17 Sep 2020 at 06:33hrs | Views
Zimbabwe is pushing for a stake in Invictus Cabora Basa oil project in Muzarabani. Mines Minister Winston Chitando said that the Government will get a certain percentage of the production.

The draft agreement is in place and the final agreement is expected in the next few weeks.

Paul Chimbodza, the local partner in the project said that the agreement could see the government establishing its own infrastructure at the production site to claim its share of the resources.

Invictus has already spent US$3.5 million in preliminary work before sinking its six-kilometre deep test wells.

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Source - FinGaz