Harbour Energy has secured the role of operator for the Zama offshore oil field in Mexico, marking the first time a private company has taken control of this asset under the country’s revised upstream framework. The company will hold a 50% working interest, with partners holding the remainder, and is expected to oversee drilling, production optimization and infrastructure upgrades. This appointment follows approval by Mexico’s National Hydrocarbons Commission and positions Harbour Energy to unlock an estimated 300 million barrels of recoverable reserves. The field’s development plan calls for six new production wells and a subsea tie-in to existing export facilities, with first oil targeted by mid-2027.

Harbour Energy shares advanced by 1.8% in early trading on relatively light volume of 360 shares, reflecting investor confidence in the Zama operator role. The company’s balance sheet remains solid, with a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Management has reiterated its commitment to disciplined capital allocation, directing cash flow toward high-return exploration and development projects while maintaining a sustainable dividend policy. Following the merger of Premier Oil and Chrysaor in July 2021, Harbour Energy has emerged as the largest UK-listed E&P group by production, delivering consistent quarterly free cash flow and year-on-year production growth of 12% in its core North Sea portfolio.