- Invictus Energy (IVZ) gains approval to renew its Environmental Impact Assessment (EIA) for its Cabora Bassa project in Zimbabwe until May 2025
- The Zimbabwe Environmental Management Agency (EMA) extended the renewal for Special Grant 4571 and two exclusive prospecting orders, paving the way for Invictus Energy’s upcoming 2D seismic campaign
- The company reports it’s committed to maximising local employment and training opportunities
- Invictus plans to start drilling at its Mukuyu-2 well in the third quarter of 2023
- IVZ shares were trading at 12 cents at 10:30 am AEST
Invictus Energy (IVZ) has seen its Environmental Impact Assessment (EIA) renewal approved for its Cabora Bassa exploration project in Zimbabwe until May 2025.
Invictus received the approval from the Environmental Management Agency (EMA), which extended the EIA for Special Grant 4571, plus two exclusive prospecting orders for an additional two years.
The renewal will allow IVZ to begin exploration drilling for its CB23 seismic survey and Mukuyu-2 well.
According to IVZ Managing Director Scott Macmillan, the EIA survey conducted in 2019 was the most “comprehensive” survey undertaken for a natural resources project in Zimbabwe.
“The company is very pleased to have the Environmental Impact Assessment and our
Environmental Management Plan renewed by EMA,” Mr Macmillan said.
“It clears the way for our upcoming 2D seismic campaign and drilling of the Mukuyu-2 well, allowing us to follow up our initial exploration work at Mukuyu-1, which confirmed a working hydrocarbon system in the Cabora Bassa Basin and the presence of light oil, gas-condensate and helium.”
Meanwhile, IVZ has maintained a strong dialogue with the local community and community liaison officers as part of the its community social responsibility (CSR) program.
“We are also pleased to have our CSR program recognised for the impact it is having in local communities, and success at Mukuyu-2 will enable us to expand our program further,” Mr Macmillan said.
IVZ states it is committed to maximising local employment and training opportunities within the Northern Zimbabwe community. Plans are in place to start drilling at its Mukuyu-2 well in the third quarter of 2023.
IVZ shares were trading at 12 cents at 10:30 am AEST.