shloboe boe
Nokuthaba Brita Ncube, ncubenokuthababrita@gmail.com
Australian oil and gas exploration company, Invictus Energy Limited, has announced the successful renewal of its Special Grant (SG) 4571 licence, which includes the Mukuyu Discovery.
The licence tenure has been extended for another three years, enabling the company to proceed with its exploration and development programmes.
SG 4571 falls under the Mines and Minerals Act (Chapter 21:05), which governs the exploration of energy resources such as natural gas, oil and coal bed methane. The Act provides for an initial three-year licence, renewable based on exploration progress and allows companies to apply for a production special grant upon making commercial discoveries.
In a statement issued yesterday, Invictus Energy confirmed the formal renewal of SG 4571 through a notice published in the Government Gazette under General Notice 2113 of 2024.
“Geo Associates (Pvt) Ltd (Geo Associates), the company’s 80 per cent-owned subsidiary and holder of Special Grant 4571, has received notification that the Minister of Mines and Mining Development, with the authorisation of the President, has, in terms of section 301 of the Mines and Minerals Act (Chapter 21:05), extended the tenure of SG 4571 licence for a further three years to December 19, 2027,” the statement reads.
The company revealed plans for a comprehensive work programme during this extended licence period, including 3D seismic acquisition, additional exploration and appraisal drilling.
“The company can apply for a production special grant licence at any stage,” Invictus Energy noted, underlining its readiness to transition to production upon achieving commercial viability.
Geo Associates holds the SG 4571 licence, with Invictus Energy owning an 80 per cent stake in the company, while the remaining 20 per cent is held by the indigenous group, One Gas Resources.
In December 2024, Invictus Energy announced the discovery of condensate gas at its Mukuyu-2 exploration site in Mbire, Mashonaland Central Province. The find, touted as the largest onshore discovery in Africa, is expected to be a game changer for Zimbabwe’s energy security and economic growth.
The Mukuyu project has been classified by the Government as a priority development initiative under its Vision 2030 agenda, aimed at transforming Zimbabwe into an upper-middle-income economy. The project is expected to deliver significant economic benefits, including job creation, foreign investment and improved energy self-sufficiency.
Invictus Energy has been leading exploration efforts in the Muzarabani area, with the Mukuyu project identified as a high-potential site for natural gas and oil deposits. The company’s ongoing efforts align with the Government’s commitment to unlocking the country’s natural resource potential and driving sustainable development.
