Zimbabwe: Discovery of a new hydrocarbon deposit

Zimbabwe : Découverte d'un nouveau gisement d'hydrocarbures

The Australian oil company Invictus Energy announced on Monday the discovery of a hydrocarbon deposit in northern Zimbabwe, a country suffering from massive power cuts.

The analysis of the samples confirms the presence of oil, helium and a natural gas « de grande qualité »said the company.

The Australian company re-evaluated data from a study conducted in the 1990s by the American oil giant ExxonMobil (ex-Mobil) which had abandoned its project on this site located 240 kilometers north of the capital Harare.

Invictus Energy signed an agreement in 2018 with Zimbabwe that provides for production sharing with the government as the country suffers from power cuts massive that can last up to 19 hours a day.

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