OK
http://teamzimbabwe.org/
Websites
Runtime: 5.6s
On September 19, 2024, 03:52 AM UTC, http://teamzimbabwe.org/ was accessible when tested on AS37332 in Zimbabwe.
Failures
HTTP Experiment
null
DNS Experiment
null
Control
null
DNS Queries
Resolver:
41.60.203.26
Query:
IN A teamzimbabwe.org
Engine:
system
Name
Class
TTL
Type
DATA
@
IN
A
194.163.46.159
TCP Connections
Connection to 194.163.46.159:80 succeeded.
HTTP Requests
URL
GET https://teamzimbabwe.org/
Response Headers
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Response Body
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<title>Team Zimbabwe | Building A Nation</title>
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<h2 class="entry-title h2-simulate-h1"><a href="https://teamzimbabwe.org/the-importance-of-production-sharing-agreements-psas-in-oil-and-gas-drilling-a-case-study-of-zimbabwes-cabbora-bassa-basin/" title="Permalink to The Importance of Production Sharing Agreements (PSAs) in Oil and Gas Drilling: A Case Study of Zimbabwe’s Cabbora Bassa Basin" rel="bookmark">The Importance of Production Sharing Agreements (PSAs) in Oil and Gas Drilling: A Case Study of Zimbabwe’s Cabbora Bassa Basin</a></h2>
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<div class="entry-content"><p><em>Zimbabwe is new to the field of oil and gas extraction, hence many, including government officials, should be excused for their lack of familiarity with a crucial enabling tool called the Production Sharing Agreement (PSA).</em></p>
<p><em>We hope that this brief article will help not just the man and woman on the street, but also government officials and Members of Parliament, all of whom have a role to play in ensuring that Zimbabwe can exploit and benefit from its newly discovered wealth in the Cabora Bassa Basin. Members of the 4th Estate too, the Press, need to know more!<br />
</em></p>
<p> </p>
<h3><strong>Understanding Production Sharing Agreements (PSAs)</strong></h3>
<div id="attachment_88607" style="width: 425px" class="wp-caption alignleft"><img fetchpriority="high" decoding="async" aria-describedby="caption-attachment-88607" class="wp-image-88607" src="https://teamzimbabwe.org/wp-content/uploads/2024/05/zim-gov-and-invictus-300x141.jpg" alt="" width="415" height="195" srcset="https://teamzimbabwe.org/wp-content/uploads/2024/05/zim-gov-and-invictus-300x141.jpg 300w, https://teamzimbabwe.org/wp-content/uploads/2024/05/zim-gov-and-invictus-768x361.jpg 768w, https://teamzimbabwe.org/wp-content/uploads/2024/05/zim-gov-and-invictus.jpg 999w" sizes="(max-width: 415px) 100vw, 415px" /><p id="caption-attachment-88607" class="wp-caption-text">Joined at the hip: Invictus Energy and the Government of Zimbabwe!</p></div>
<p>A PSA is a contract between a government and a resource extraction company (or consortium) that details how much of the resource extracted will be allocated to each party.Typically, the agreement specifies the percentage of production that will go towards covering the company’s exploration and development costs, with the remaining production being split between the government and the company based on negotiated terms. PSAs are crucial for:</p>
<p>a) <strong>Risk Management:</strong> They distribute financial risks between the government and the investor, encouraging foreign investment in potentially high-risk regions.</p>
<p>b) <strong>Revenue Sharing:</strong> They ensure the host country receives a fair share of the resources, contributing to national revenue.</p>
<p>c) <strong>Operational Clarity:</strong> They provide a clear framework for operational responsibilities, timelines, and procedures, facilitating smoother project execution.</p>
<p> </p>
<h3><strong>The Muzarabani Gas Discovery and the Role of PSAs</strong></h3>
<p>The discovery of significant gas reserves in Zimbabwe’s Cabora Bassa Basin by Invictus Energy has generated substantial excitement and potential for economic growth. This find represents a transformative opportunity for Zimbabwe, potentially reducing energy imports, creating jobs, and boosting local industries. However, the progress towards drilling and eventual production is heavily contingent upon the finalization of a robust PSA.</p>
<div id="attachment_88594" style="width: 529px" class="wp-caption alignleft"><img decoding="async" aria-describedby="caption-attachment-88594" class="wp-image-88594" src="https://teamzimbabwe.org/wp-content/uploads/2024/05/Q1-2024-report-300x164.jpg" alt="" width="519" height="284" srcset="https://teamzimbabwe.org/wp-content/uploads/2024/05/Q1-2024-report-300x164.jpg 300w, https://teamzimbabwe.org/wp-content/uploads/2024/05/Q1-2024-report-768x421.jpg 768w, https://teamzimbabwe.org/wp-content/uploads/2024/05/Q1-2024-report.jpg 978w" sizes="(max-width: 519px) 100vw, 519px" /><p id="caption-attachment-88594" class="wp-caption-text">Extract from March 2024 quarterly activities report: Commercial update</p></div>
<p> </p>
<h3><strong>Impediments Due to Delayed PSAs</strong></h3>
<p>That there have been <strong>delays in getting the Invictus Energy and Government of Zimbabwe PSA signed is not a secret!</strong> The signing has been promised for what looks like eternity now!</p>
<p>Perhaps unrecognized, particularly by officials representing the Government officials, is the detrimental impact that such a delay has, not only on investors in this project, but on Zimbabwe as an investment destination overall.</p>
<p>Several critical aspects of the project that have been affected by these delays as as follows:</p>
<div id="attachment_88610" style="width: 161px" class="wp-caption alignleft"><img decoding="async" aria-describedby="caption-attachment-88610" class="wp-image-88610 " src="https://teamzimbabwe.org/wp-content/uploads/2024/05/rig2-229x300.jpg" alt="" width="151" height="198" srcset="https://teamzimbabwe.org/wp-content/uploads/2024/05/rig2-229x300.jpg 229w, https://teamzimbabwe.org/wp-content/uploads/2024/05/rig2.jpg 583w" sizes="(max-width: 151px) 100vw, 151px" /><p id="caption-attachment-88610" class="wp-caption-text">The Oil Rig standing Tall and Proud – at a cost!</p></div>
<p>a) <strong>Financial Investment:</strong> Investors require the certainty that comes with a signed PSA to commit substantial financial resources. Without this agreement, securing necessary capital becomes challenging, slowing down the entire project lifecycle. As it happens, Invictus Energy have a piece of equipment (an oil rig) on long-term hire, stationed in Muzarabani, waiting to be deployed, but can not do so, until additional funding, which mostly depends on having a signed PSA, is secured. Several millions of dollars will be wasted due to costs related to this item alone!</p>
<p>b) <strong>Operational Planning:</strong> Drilling operations depend on detailed planning and scheduling, which are outlined in the PSA. Delays in the agreement mean delays in operational timelines, affecting everything from workforce mobilization to equipment procurement. Again, that oil rig, which we like to see in pictures as evidence of work, is sitting there, doing nothing!</p>
<p>c) <strong>Regulatory Approvals:</strong> A signed PSA is often a prerequisite for obtaining various regulatory approvals. Without it, the project cannot proceed to the drilling phase, leading to further postponements and increased costs.</p>
<p>d) <strong>Market Confidence:</strong> The international investment community closely watches how resource-rich countries manage their agreements. Delays can erode market confidence, potentially leading to a reluctance to invest in future projects within the country. Claiming to be Open for Business means nothing, if business is then unable to proceed.</p>
<div id="attachment_88595" style="width: 496px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-88595" class="wp-image-88595" src="https://teamzimbabwe.org/wp-content/uploads/2024/05/Reg-framework-300x163.jpg" alt="" width="486" height="264" srcset="https://teamzimbabwe.org/wp-content/uploads/2024/05/Reg-framework-300x163.jpg 300w, https://teamzimbabwe.org/wp-content/uploads/2024/05/Reg-framework-768x417.jpg 768w, https://teamzimbabwe.org/wp-content/uploads/2024/05/Reg-framework.jpg 940w" sizes="(max-width: 486px) 100vw, 486px" /><p id="caption-attachment-88595" class="wp-caption-text">Extract from March 2024 quarterly activities report: Regulatory framework</p></div>
<p> </p>
<h3>The Way Forward</h3>
<p>To capitalize on the Muzarabani gas discovery, it is imperative for the Zimbabwe government and Invictus Energy to expedite the PSA finalization process. This will not only unlock immediate project activities but also signal to the global market that Zimbabwe is a viable and reliable destination for energy investments. Clear and swift action in this regard can set a positive precedent, encouraging further exploration and development in the region.</p>
<p> </p>
<p><strong>In conclusion,</strong> Production Sharing Agreements are foundational to the successful development of oil and gas projects. In Zimbabwe’s Cabora Bassa Basin, the timely signing of the PSA with Invictus Energy is crucial for turning the promising gas discovery into tangible economic benefits. By addressing the delays and fostering a collaborative environment, Zimbabwe can pave the way for a prosperous future in its energy sector.</p>
<div id="attachment_88611" style="width: 310px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-88611" class="wp-image-88611 size-medium" src="https://teamzimbabwe.org/wp-content/uploads/2024/05/oil-300x162.jpg" alt="" width="300" height="162" srcset="https://teamzimbabwe.org/wp-content/uploads/2024/05/oil-300x162.jpg 300w, https://teamzimbabwe.org/wp-content/uploads/2024/05/oil-768x415.jpg 768w, https://teamzimbabwe.org/wp-content/uploads/2024/05/oil.jpg 940w" sizes="(max-width: 300px) 100vw, 300px" /><p id="caption-attachment-88611" class="wp-caption-text">The purity of whats underground: But what use is it underground?</p></div>
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<div class="entry-content"><p>Source: Zacc arrests Hre councillor Duma for extortion –Newsday Zimbabwe THE Zimbabwe Anti-Corruption Commission (Zacc) has arrested Harare ward 29 councillor, Blessing Duma, on allegations of extortion. In a statement, Zacc spokesperson Simiso Mlevu said Duma, who is the Harare City Council audit committee chairperson, allegedly coerced housing and community services director Addmore Nhekairo to […]<br />
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<div class="entry-content"><p>Source: ” target=”_blank” rel=”nofollow noopener noreferrer”‘Divert devolution funds to Gwayi-Shangani Dam’ -Newsday Zimbabwe Bulawayo Senator Collet Ndlovu GOVERNMENT has been urged to direct devolution funds towards the Gwayi-Shangani Dam project, which is seen as the long-lasting solution to Bulawayo’s water woes. The project, which entails drawing water from the Zambezi to Bulawayo, has missed numerous […]<br />
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<div class="entry-content"><p>Source: Govt raids borehole owners, unregistered ones to pay US$150 fine -Newsday Zimbabwe GOVERNMENT has threatened to fine people who own boreholes that are not registered with the Zimbabwe National Water Authority in Upper Gwayi Sub-Catchment area in Matabeleland North province. In a notice dated September 12, the Upper Gwayi Sub Catchment Council advised borehole […]<br />
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<div class="entry-content"><p>Source: Govt in a fix as farmers reject ZiG -Newsday Zimbabwe GOVERNMENT is in a fix as its bid to promote the use of the Zimbabwe Gold (ZWG) hit a snag after farmers last week forced authorities to pay them in United State dollars for wheat deliveries, NewsDay can report. The farmers rejected payment in […]<br />
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<div class="entry-content"><p>Source: HIV/Aids fight derailed by funding challenges -Newsday Zimbabwe SPEAKER of the National Assembly, Jacob Mudenda SPEAKER of the National Assembly, Jacob Mudenda, says Zimbabwe’s HIV/Aids fight is being hampered by funding challenges, adding that the country needed at least US$500 million annually to respond positively to the pandemic. “It is indisputable that financing remains […]<br />
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<h2 class="entry-title h2-simulate-h1"><a href="https://teamzimbabwe.org/unlock-value-from-natural-resources/" title="Permalink to ‘Unlock value from natural resources’" rel="bookmark">‘Unlock value from natural resources’</a></h2>
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<div class="entry-content"><p>Zvamaida Murwira, Harare Bureau THERE is a need to fully unlock value from the country’s abundant resources and other natural endowments by turning them into tangible products through research and innovation in line with the Second Republic’s Heritage-Based Education 5.0, President Mnangagwa has said. Delivering a keynote address at the Second Presidential Innovation Fair 2024 […] …<br /><a href="https://teamzimbabwe.org/unlock-value-from-natural-resources/" class="more-link" >Continue reading…</a></p>
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<div class="entry-content"><p>Raymond Jaravaza, raymondjaravaza@gmail.com A discarded lit material, possibly a cigarette stub may have sparked the devastating fire that destroyed 51 decommissioned passenger coaches at the National Railways of Zimbabwe (NRZ) Bulawayo mechanical workshop on Monday, a report by the Bulawayo Fire Brigade suggests. The decommissioned passenger coaches were reduced to shells in a raging inferno […] …<br /><a href="https://teamzimbabwe.org/cigarette-stub-likely-torched-nrz-fire/" class="more-link" >Continue reading…</a></p>
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<h2 class="entry-title h2-simulate-h1"><a href="https://teamzimbabwe.org/my-beautiful-home-celebrates-10-years/" title="Permalink to My Beautiful Home celebrates 10 years" rel="bookmark">My Beautiful Home celebrates 10 years</a></h2>
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<div class="entry-content"><p>Mbulelo Mpofu, mbulelo.smpofu@gmail.com THIS Friday, the cultural landscape of Zimbabwe will reach a significant milestone as we celebrate the 10th anniversary of the “My Beautiful Home” (MBH) clay-painted hut competition at the Amagugu International Heritage Centre. Founded by French geologist Veronique Attala, Zimbabwean historian Pathisa Nyathi and John Knight, this annual event has become a […] …<br /><a href="https://teamzimbabwe.org/my-beautiful-home-celebrates-10-years/" class="more-link" >Continue reading…</a></p>
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<h2 class="entry-title h2-simulate-h1"><a href="https://teamzimbabwe.org/reactions-to-coventry-nomination/" title="Permalink to Reactions to Coventry nomination" rel="bookmark">Reactions to Coventry nomination</a></h2>
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<div class="entry-content"><p>Lovemore Dube, lovemore.dube@chronicle.co.zw VETERAN athletics promoter and writer Geshom Nyathi believes the pendulum for the International Olympic Committee presidency could swing Minister of Sport, Kirsty Coventry’s way. She is among seven candidates vying for the position to replace Thomas Bach, who announced that he will step down at the organisation’s congress from March 18-21 next […] …<br /><a href="https://teamzimbabwe.org/reactions-to-coventry-nomination/" class="more-link" >Continue reading…</a></p>
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<h2 class="entry-title h2-simulate-h1"><a href="https://teamzimbabwe.org/fastjet-urged-to-expand-routes/" title="Permalink to Fastjet urged to expand routes" rel="bookmark">Fastjet urged to expand routes</a></h2>
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<div class="entry-content"><p>Melissa Mpofu, mellisa.mpofu@chronicle.co.zw BULAWAYO’S Mayor, David Coltart, has called on Fastjet, one of the major airlines servicing the city, to consider expanding its routes. Speaking at the introduction of Fastjet’s third flight between Bulawayo and Johannesburg, Coltart expressed gratitude for the airline’s efforts but emphasised the need for more direct flights from Bulawayo to other […] …<br /><a href="https://teamzimbabwe.org/fastjet-urged-to-expand-routes/" class="more-link" >Continue reading…</a></p>
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