STORY: Zimbabwe anticipates energy sufficiency as oil and gas exploration continues
DATELINE: Sept. 23, 2023
LENGTH: 00:02:00
LOCATION: Harare
CATEGORY: ECONOMY

SHOTLIST:
1. various of drilling rigs
2. various of workers working on site
3. SOUNDBITE 1 (English): PAUL CHIMBODZA, Managing Director of Geo Associates, Invictus, Zimbabwe
4. SOUNDBITE 2 (English): PAUL CHIMBODZA, Managing Director of Geo Associates, Invictus, Zimbabwe
5. SOUNDBITE 3 (English): FARAI MAGUWU, Director of the Center for Natural Resources Governance

STORYLINE:

Australia-listed Invictus Energy is currently exploring oil and gas in northern Zimbabwe, and a commercial discovery is expected to be a game changer in the country's quest to become energy-sufficient.

Earlier this year, the company confirmed the presence of gas condensate and light oil reserves in the Muzarabani area near the Mozambican and Zambian borders, but some technical challenges prevented the extraction of a sample from an exploration well to meet requirements for declaring a commercial discovery.

Invictus has indicated that the drilling of the second well will commence this September. The development, however, comes at a time when there are increased calls for the world to gradually shift from fossils to renewable energy.

Responding to questions from Xinhua recently, Paul Chimbodza, Managing Director of Geo Associates, Invictus' Zimbabwe subsidiary and the mining license holder, said there is potential to produce sustainable energy from gas.

SOUNDBITE 1 (English): PAUL CHIMBODZA, Managing Director of Geo Associates, Invictus, Zimbabwe
"We look at the mineral and resource endowment of the country and how best we can extract that and use that in an environmentally sustainable manner. That is why we're also looking at turning our gas to electricity, which is not invasive as such as a source of energy."

Chimbodza said the discussion on the low carbon agenda should be about the sustainable and cleaner use of fossil energy as opposed to the total disregard of fossil energy.

SOUNDBITE 2 (English): PAUL CHIMBODZA, Managing Director of Geo Associates, Invictus, Zimbabwe
"There is a lot of work that is happening in the industry to make sure that there is sustainable and cleaner use of fossil energy, and we subscribe to that thought process."

Critics say while the calls for the adoption of cleaner energy are noble, a rushed phase-out of fossils will disadvantage countries like Zimbabwe that are yet to industrialize.

SOUNDBITE 3 (English): FARAI MAGUWU, Director of the Center for Natural Resources Governance
"There are also some very strong arguments that Africa also needs to use its fossil fuels to industrialize and to develop, so we not saying let's radically stop the use of fossil fuels, but we need to start migrating gradually as long as it takes."

The oil and gas exploration work comes at a time when Zimbabwe is seeking to play a major role in the global green transition by leveraging its vast lithium resources.

Several lithium producers, including China's Sinomine and Zhejiang Huayou, have built capacity in Zimbabwe to produce lithium concentrates. Last month during a commissioning of a lithium plant in Buhera, Manicaland province, Zimbabwean President Emmerson Mnangagwa urged lithium players to ultimately graduate from the production of concentrates, one of the early stages of lithium processing, and venture into the production of battery-grade lithium.

Xinhua News Agency correspondents reporting from Harare.
(XHTV)