Oil & Gas

02 Aug 2023

Major Boost for Muzarabani Gas Project

02 Aug 2023  by bulawayo24   

Zimbabwe and Algeria yesterday signed a Memorandum Of Understanding (MoU) in hydrocarbons which is a shot in the arm for the country's natural gas and oil exploration activities following the confirmation of large reserves in the north-eastern part of the country.

Algeria's Energy and Mines Minister Mohamed Arkab, arrived in the country yesterday and paid a courtesy call on President Mnangagwa following the signing of the MoU and apprised the Head of State of the agreement, which will focus mainly on hydrocarbons.

The MoU is further testament that the Second Republic's engagement and re-engagement diplomatic offensive continues to bear fruit on all fronts, as relations between Harare and Algiers have continued to grow in leaps and bounds over the years.

Algeria has the tenth-largest proven reserves of natural gas in the world and is the sixth largest gas exporter and has the third largest reserves of shale gas. It also ranks sixteenth in proven oil reserves, according to a Data Privacy Framework (DPF).

Speaking after a closed door meeting between President Mnangagwa and the Algerian delegation, Energy and Power Development Minister Zhemu Soda, said the establishment of collaboration between Zimbabwe and Algeria in hydrocarbons would definitely aid in the former's economic growth particularly in Muzarabani.

He said as an expert in the field, Algiers had agreed to transfer its expertise for Harare's exponential benefit.

"You are aware that there is exploration that has just started in Muzarabani so this relationship is going to assist us given that it's a new frontier for Zimbabwe to exploit our hydro-carbons in Muzarabani and we think from this relationship we are going to benefit a lot collaborating with them and sharing the expertise so that we also broaden our energy mix in the country.

"It is an MoU for the purposes of collaborating in areas of energy. You might be aware that Algeria is very much advanced in the area of hydrocarbons, they do mine their oil and extract their gas which they are using for the betterment of their economy especially in the area of gas to electricity," he said.


More News