Zimbabwe has taken a major step towards commercialising its emerging oil and gas sector after officially gazetting the Cabora Bassa Petroleum Production Sharing Agreement (PPSA), providing a long-term legal and fiscal framework for the development of the Mukuyu gas-condensate discovery.
Published under General Notice 2101 of 2026, the agreement formalises the partnership between the Government of Zimbabwe and Invictus Energy, establishing the rules governing investment, production, revenue sharing and state participation in the Cabora Bassa Basin project.
The gazettal marks the completion of the agreement’s legal validation process, giving investors greater regulatory certainty as the project advances from exploration into appraisal and early-stage development.
Under the PPSA, the Government secures a direct share of hydrocarbon production through the Sovereign Wealth Fund of Zimbabwe, ensuring the State benefits from future revenues while maintaining long-term participation in the project. The framework also provides fiscal stability provisions aimed at protecting investments from sudden changes in taxation and royalty structures, a move expected to improve the project’s attractiveness to international lenders and investors.
The agreement comes at a crucial time for Invictus Energy as it progresses plans for further appraisal drilling and development activities following the Mukuyu discovery. Industry observers view the legal certainty created by the PPSA as a significant milestone that could unlock future investments in supporting infrastructure, including gas processing facilities, power generation projects and pipeline networks.
Government has consistently identified the Cabora Bassa project as a strategic asset in its efforts to reduce dependence on imported energy and strengthen domestic energy security.
With the production-sharing framework now embedded in Zimbabwean law, attention is expected to shift towards project execution, resource appraisal and the development of commercial infrastructure required to bring Cabora Bassa gas resources to market.
The gazettal of the PPSA provides the regulatory foundation for what could become one of Zimbabwe’s most significant energy projects, positioning the country to emerge as a meaningful player in the regional natural gas industry. 
