Oil and Gas Exploration in Zimbabwe

Oil and gas exploration and production are associated with economic growth through boosting national revenues. The economic growth is understood to be a channel for socioeconomic development that also cascades to promote sustainable development of the environment. However, this bilateral relationship between economic growth and sustainable development has not been the case for some oil-producing countries in the Global South. Therefore, this entry undertakes to investigate the conducive environment for a sustainable exploration and production of oil and gas, focusing on Zimbabwe. As such, a desktop research methodology was adopted as this allows for a vast collection of data within a short time frame and limited research budget. Subsequently, a thematic analysis of the collected data was used to come up with the study findings. The study revealed that the Zimbabwean oil and gas exploration and production sector is still in its infancy, but the country is expectant of positive benefits to come out of such investments. Furthermore, it was confirmed that foreign multinational companies finance oil and gas exploration in developing countries, and thus there is need for robust regulatory frameworks to enable a conducive environment for sustainable development. The study recommends that governmental authorities need to be at the forefront of monitoring the activities of the investors to safeguard the interests of the country with regards to environmental sustainability and inclusive socioeconomic development.