Zimbabwe, Geo Associates Sign Landmark Petroleum Sharing Deal.
The Government of Zimbabwe and Geo Associates, an 80%-owned subsidiary of Invictus Energy, are set to sign a Petroleum Production Sharing Agreement (PPSA) today, establishing the legal framework for Zimbabweโs emerging oil and gas sector.
The agreement covers the 360,000-hectare Cabora Bassa Project and is expected to become Zimbabweโs model contract for future petroleum investments. Geo Associates is jointly owned by Invictus Energy (80%) and Mutapa Investment Fund (20%).
The signing comes as Invictus advances preparations for the Musuma-1 exploration well, targeting 1.2 trillion cubic feet of gas and 73 million barrels of condensate, with drilling planned for the second half of 2026.
The wider Cabora Bassa Basin, home to the Mukuyu gas field, has been ranked among Sub-Saharan Africaโs largest recent petroleum discoveries, with estimates of up to 20 trillion cubic feet of gas and 845 million barrels of condensate.