By Business Reporter | It is 2 years later, and the Invictus Energy’s company who business activity was in 2018 dangling on Emmerson Mnangagwa’s press conference to “strike the magic” for a share value, is still to draw a litre of oil.
Not even a puff of gas has been sucked and yet Mnangagwa says the signing of that agreement is a massive leap towards tapping into the oil and gas industry, which is a new frontier in the country’s mining history.
“Earlier this year, my Government signed a Petroleum Exploration and Development Production Agreement with GeoAssociates (Pvt) Ltd to carry out exploration and production of oil and gas in Muzarabani, Mashonaland Central Province,” Mnangagwa said quoted by the state media.
“The signing of that agreement is a massive leap towards tapping into the oil and gas industry, which is a new frontier in the country’s mining history
“This presents huge, unique and competitive investment opportunities. These include production of liquid fuels as well as various downstream linkages such as electricity generation, production of liquid petroleum gas (LPG), fertilisers and use in the petro-chemical industry,” he continued.
2 years ago, the company director, Scott Macmillan briefly spoke to ZimEye… SEE INTERVIEW EXCERPT BELOW [TIMELINE 32:00]:
Meanwhile, a comment from the company was awaited at the time of writing.