The Cabora Bassa oil and gas project has reached a key milestone after Government gazetted the Petroleum Production Sharing Agreement (PPSA), formalising the framework for developing Zimbabwe’s emerging petroleum resources.
The agreement, published under General Notice 2101 of 2026 in the Government Gazette last Friday, follows its signing in May between Government, Australia-based Invictus Energy and its 80 percent-owned subsidiary, Geo Associates (Private) Limited.
The gazetting formalises the agreement’s public and legal recognition, providing greater clarity on the fiscal, commercial and regulatory arrangements governing the project.
Invictus Energy managing Director, Scott Macmillan said the development completed the final formal step following the signing of the agreement.
“The formal gazettal of the PPSA is a landmark milestone for Invictus and the Cabora Bassa Project, completing the final formal step following the landmark signing of the agreement earlier this year.
“Importantly, it establishes the long-term fiscal, legal and commercial certainty required to underpin the substantial investment needed to advance the Mukuyu discovery through appraisal and towards development and commercial production,” he said.
The project centres on the Mukuyu gas discovery in the Cabora Bassa Basin, where Invictus holds an exploration portfolio covering approximately 360 000 hectares in northern Zimbabwe.
The agreement is expected to provide greater certainty for prospective investors and financiers considering the substantial capital required to advance exploration, appraisal and eventual production.
The milestone aligns with Government’s broader development agenda under Vision 2030, which seeks to harness the country’s natural resources to drive industrialisation, strengthen energy security and create sustainable economic opportunities.
If successfully developed, the Cabora Bassa project could contribute to domestic energy supply, employment creation and increased investment, while advancing Zimbabwe’s upper-middle-income economy ambitions.
