HARARE — Zimbabwe has formally disclosed a production-sharing agreement with Geo Associates (Private) Limited for the exploration and potential production of oil and natural gas.

The agreement, signed on May 13, 2026, was made public in the Government Gazette published on October 30.

According to General Notice 2101 of 2026, the agreement was entered into by the government through the ministries responsible for finance, mines and energy.

It covers petroleum and natural gas exploration, appraisal, development and production within an area designated as Special Grant No. 4572.

The government said the agreement establishes the regulatory, financial and operational framework for activities within the designated area.

It also provides for revenue-sharing arrangements and state equity participation, as well as environmental management, decommissioning and restoration obligations.

The Gazette did not disclose the government’s equity percentage, the revenue-sharing formula or the anticipated investment value.

It also did not provide details of the project’s development timetable or indicate whether commercially viable oil or gas reserves have been established.

The notice was issued by Mines and Mining Development Secretary T. U. Wushe.

The agreement marks a formal arrangement for potential petroleum and natural gas development, although actual production would depend on the outcome of exploration and appraisal activities.