Zimbabwe opens up the Cabora Bassa Basin to attract oil and gas investment

According to a report from The Herald of Zimbabwe on September 7, the Government of Zimbabwe has officially opened the Cahora Bassa Basin to global investors, welcoming international participants to engage in oil and gas exploration and development, and has classified coal as a "special critical mineral". This initiative aims to revitalize local energy resources, cut down fuel imports, and facilitate the country's industrialization. The Zimbabwean side noted that opening up the basin can speed up oil and gas exploration progress, and bring in capital, technology and professional expertise for the nascent oil and gas industry. The government expects to reduce external dependence on fuel, strengthen national energy security and drive the development of upstream and downstream industrial chains through resource exploitation. At present, foreign-funded enterprises have carried out exploration operations in the region, and the key exploration well is scheduled to start drilling in November this year.

Source: Economic and Commercial Office of the Embassy of the People's Republic of China in the Republic of Zimbabwe