Invictus Energy (ASX:IVZ), an Australian company, is reportedly within weeks of finalising a Production Sharing Agreement (PSA) with the government of Zimbabwe for the development of its Cabora Bassa project.

This announcement was made by a non-executive director of the company following considerable delays.

The PSA will be a significant resolution for Invictus as it aims to commercialise gas discoveries in the north of Zimbabwe.

Industry veteran and non-executive director at Invictus, Robin Sutherland, mentioned that recent discussions with senior Zimbabwean government officials had been positive, with central bank governor, John Mangudya, indicating a willingness to expedite negotiations.

Following a delay of approximately four years, this PSA will provide Invictus with the green light to commercialise its discovery.

Invictus Energy, which will conduct 3D surveys and verify the Mukuyu-2 well’s flow rate, has already signed a gas sales agreement with Mbuyu Energy for a 500 megawatt gas-to-power project.

Invictus Energy is an oil and gas exploration company that focuses on high impact energy resources in sub-Saharan Africa.