This is a rather interesting document produced by The Centre for Natural Resources Governance (CNRG) and Good Governance Africa (GGA) and published in Feb 2023. These are NGO's so make out what you will of the accuracy of the content.
Their disclaimer "The information contained herein is compiled from a wide variety of primary sources. Whilst every care has been taken in compiling this publication, the publishers do not give warranty as to the completeness or accuracy of its content."
https://digitalmallblobstorage.blob.core.windows.net/wp-content/2023/03/Cabora-Bassa-report.pdfHere are what I thought were the 2 interesting snippets:
1. Invictus owns a controlling stake in the venture (80%) and is the primary funding and technical partner, while One Gas, the original vendor of the special grant, controls the remaining 20 percent.
One Gas is primarily focused on midstream and downstream sectors.
ED: There is no quoted source for this, but I found the distinction made an interesting remark. (Just an FYI most know this but worth reiterating: GeoAssociates (the venture) is the holder of SG4571 and is 80% owned by IVZ and 20% by One Gas Resources)
2. In March 2021, GeoAssociates and the government of Zimbabwe signed a Petroleum Exploration Development and Production Agreement (PEPDA) and a
Production Sharing Agreement (PSA). PEPDA provides a framework for the progression of the project through the exploration, appraisal, development, and production phases. While the document has not been made public, it gives GeoAssociates the rightto enter into a 25-year production licence following the exploration period as well as Special Economic Zone (SEZ) status. The PSA details the sharing of benefits realised from oil and gas extraction but has not been made public. However,
Mr Chimbodza told Mbire Rural District leadership that GeoAssociates and the Government of Zimbabwe will share 50 percent each in the upstream production chain. It is not clear at what stage government will claim its share – whether as crude oil/natural gas or as a percentage of its sale. The PSA is an important document which should be made public in the interest of transparency and accountability. Keeping the arrangement secretive allows for potential corruption or abuse of public resources and it may unnecessarily tarnish the reputation of Invictus.
ED: The source quoted regarding what Chimbodza said "Interview with community member. 27 October 2022. Mbire District. Mashonaland Central, Zimbabwe". Reading through the report it seems that Paul Chimbodza's OneGas organisation were the primary players in the community engagement (pages 10/11)
Make of it what you will...it's in the public domain.
