Zimbabwe discovered gas and oil deposits within its borders

Zimbabwe discovered gas and oil deposits within its borders

- An Austrian energy company found gas and oil deposits in Zimbabwe

- Emmerson Mnangagwa, the Zimbabwean president, announced the discovery on television on 1 November

- The president says it is an exciting discovery for Zimbabwe

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

Zimbabwe has discovered gas and oil deposits within its borders.

The Zimbabwean president, Emmerson Mnangagwa, made the announcement of the discovery on Thursday, 1 November.

The gas and oil deposits were found in the Mashonaland Central Province after a study by Invictus Energy Limited, an Australian company.

PAY ATTENTION: Save mobile data with FreeBasics: Briefly is now available on the app

The Zimbabwean president addressed the nation on television and stated that the government has been working with the company for the last few months, as reported by eNCA.

According to President Mnangagwa, it is a great development for Zimbabwe. Exploration of the deposits will be made by mid 2020.

The company is focused on energy in Sub-Saharan Africa and is committed to working with and in Zimbabwe.

The president said that Invictus will enter into an agreement with the Zimbabwe government that will kick in when the project reaches the production stage.

READ ALSO: Tito Mboweni to investors in New York: SAA should be shut down

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Related news
Vytjie Mentor retracts testimony in state capture investigation

Vytjie Mentor retracts testimony in state capture investigation

Vytjie Mentor retracts testimony in state capture investigation
Briefly.co.za
Mailfire view pixel