adminNqobile Bhebhe
Senior Business Writer
IN a major policy breakthrough poised to enhance Zimbabwe’s investment appeal in the oil and gas sector, the Government and Invictus Energy have agreed to consolidate the Petroleum Production Sharing Agreement (PPSA) and the Petroleum Exploration Development and Production Agreement (PEDPA) into a unified, streamlined legal framework.
This landmark decision was reached during a high-level in-country visit by the Invictus Energy Board of Directors at the end of March.
The delegation held extensive engagements with senior Government officials, the Mutapa Investment Fund, traditional leaders, local investors, and key project partners—discussions that centred on accelerating progress in the Cabora Bassa Project, Zimbabwe’s flagship petroleum exploration initiative.
Following in-depth legal and technical consultations involving Invictus Energy, external legal counsel to Zimbabwe and relevant Government ministries, all parties unanimously agreed that amalgamating the PPSA and PEDPA would provide long-term regulatory clarity and administrative efficiency.
The consolidated agreement is expected to streamline approval processes, reduce bureaucratic duplication, and enhance governance as the project transitions from exploration to commercial production.
Online Reporter