Zimbabwe advances towards major gas production with ESIA approval Zimbabwe's ambition to emerge as a key gas producer has gained momentum following Invictus Energy's receipt of approvals for the Environmental and Social Impact Assessment (ESIA) related to its gas project in the northern part of the country. This approval enables the company to commence pilot production and commercialise its gas resources. The Environmental Management Authority (EMA) granted the ESIA approval for Invictus's oil and gas project located in the Cabora Bassa Basin. The pilot production activities will include the Eureka Gold Mine gas-to-power project and encompass gas extraction, liquefaction, and transportation from the Mukuyu gas field, alongside future operations across Special Grant 4571 and Exclusive Prospecting Orders 1848 and 1849. Listed on the Australian Stock Exchange, Invictus has yet to begin exploration drilling on multiple targets within its extensive licensed areas, including the Mukuyu field, where two significant discoveries have already been made. The project in the Cabora Bassa Basin, situated in Mashonaland Central Province, holds the potential to transform Zimbabwe's energy landscape and contribute to cleaner energy production. This follows Invictus's announcement in December 2023 of discovering condensate gas in the Upper and Lower Angwa formations of its Mukuyu fields. The company has since signed agreements to develop gas-to-power facilities, including a partnership with Eureka Gold Mine. Success in this venture could pave the way for scaling gas power production to supply the national grid, addressing the country's acute power shortages. Currently, Zimbabwe generates an average of 1,400 megawatts (MW) against a peak demand of approximately 2,000 MW, relying on imports and power rationing to manage the deficit. Invictus is also exploring opportunities to invest in power generation capacity to support the Southern African Development Community (SADC), which is grappling with its own power challenges. The issues at Hwange Power Station and Kariba Power Station—aging equipment and water shortages—have further exacerbated Zimbabwe's power supply difficulties. Invictus's gas-to-power initiative could be the breakthrough the country needs, with the potential to add to the estimated 230 million barrels of oil equivalent and 1.3 trillion cubic feet of gas identified from the two wells drilled in the 200 square kilometre Mukuyu structure. While focusing on immediate development of gas-to-power facilities, Invictus also aims to process the gas into petroleum, yielding various valuable by-products. Preliminary analyses of downhole gas samples have revealed high-quality gas condensate with minimal impurities, making it suitable for low-cost processing. In a statement, Invictus outlined that the ESIA approval provides a clear pathway for the commercialisation of gas resources from the Cabora Bassa Basin. Managing Director Scott MacMillan expressed his company's commitment to unlocking Zimbabwe's gas potential and delivering long-term value to shareholders and the wider region. “I look forward to providing further updates as we advance these pilot production activities,” he stated. MacMillan highlighted that the ESIA approval marks a critical milestone, paving the way for future development in the Mukuyu gas field and broader exploration areas. The pilot production plans will now be finalised, with necessary permits secured and discussions underway with additional potential offtake partners. The ESIA approval is crucial for commencing pilot production activities, including the Eureka Gold Mine Gas-to-Power Project, developed in collaboration with Dallaglio and Himoinsa SA. Invictus and Himoinsa have been actively engaging technology providers for gas processing, liquefaction, and logistics solutions, contributing to a feasibility study that is progressing alongside the project. This initiative aims to identify optimal technologies to maximise efficiency and commercial viability for both the pilot production phase and subsequent large-scale development. The ESIA builds upon an extensive 2019 environmental assessment, which included rigorous field surveys and consultations with key stakeholders, reinforcing Invictus Energy's commitment to responsible and sustainable resource development while adhering to stringent environmental and social governance standards.