Zama – 12.39% non-operated

The Zama unit development plan was submitted in March 2023 and approved by the regulator in June. 2023 also saw good progress on several commercial workstreams, while the initiation of FEED and a refresh of cost and schedule estimates are planned for 2024. A final investment decision for the project would result in c.75 mmboe of 2C resources moving into 2P reserves, replacing over a year’s worth of Harbour’s current production. The completion of the acquisition of the Wintershall Dea asset portfolio will increase our interest in Zama from c.12 per cent to c.32 per cent.

The Zama unit on Block 7 is in the shallow water Sureste Basin in the Gulf of Mexico.

Block 30 - 30.0% non-operated

Harbour has a 30 per cent non-operated interest in Block 30 to the southwest of Zama. We completed two exploration wells in 2023, targeting the Kan and Ix prospects. The Kan-1 well made an oil discovery and resulted in the addition of 29 mmboe to our 2C resource at year end. A plan to appraise the Kan discovery in 2024 has been approved by the regulator. The second commitment well, Ix-1EXP, was unsuccessful and has been plugged and abandoned. As a result of the acquisition of the Wintershall Dea asset portfolio, Harbour will become operator of Block 30 with a 70 per cent interest.

For full details of our licence interests in Mexico, see our worldwide licence interests page.