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Harbour Energy Takes Control of Mexico's Zama Offshore Field
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Key Takeaways
Harbour Energy is named operator of Mexico's Zama field after partner approval and energy ministry clearance.
Zama holds about 750 million boe, with Harbour Energy owning 32.22% alongside Pemex and Talos.
Front-end design ends in 2026, targeting FID by 2026-2027 and first oil within 36-48 months.
Harbour Energy plc (HBRIY - Free Report) has been formally named operator of the Zama offshore oil development in Mexico, following unanimous partner approval and clearance from the Ministry of Energy. Zama is one of the world’s largest shallow-water discoveries of the past decade, with gross recoverable resources estimated at around 750 million barrels of oil equivalent. Harbour Energy holds a 32.22% operated interest, alongside Pemex holding 50.4% and Talos Energy Mexico holding 17.35%.
Development Timeline & Production Outlook
Front-end engineering and design is expected to conclude in 2026, paving the way for a final investment decision (FID) in 2026-2027. Based on industry timelines, first oil could be achieved within 36-48 months post-FID, positioning Zama as a meaningful contributor to production growth by the late 2020s.
Strategic Significance for Mexico’s Energy Sector
Mexico’s crude production has fallen sharply over the past two decades, prompting policymakers to embrace partnership models that combine private-sector expertise with state ownership. Pemex’s financial constraints have further reinforced the need for capable international operators, making Harbour Energy’s appointment a key milestone in Mexico’s offshore energy transformation.
Harbour Energy’s Operational Strength
Harbour Energy brings deep experience in shallow-water developments, operating over 350,000 barrels of oil equivalent per day globally, with a strong legacy in the North Sea. Its operated portfolio already includes Mexico’s Kan field and newly acquired U.S. Gulf of Mexico assets, underscoring its capability to execute complex offshore projects efficiently.
Why Shallow-Water Economics Matter
Shallow-water developments such as Zama benefit from lower capital intensity, shorter development cycles and reduced technical complexity compared with deepwater projects. Harbour Energy’s expertise in subsea tie-backs and infrastructure optimization is well-suited to Mexico’s shelf conditions, supporting cost-effective and timely project delivery.
HBRIY’s Zacks Rank & Key Picks
U.K.-based Harbour Energy is an independent oil and gas company, formerly known as Premier Oil plc. Currently, HBRIY has a Zacks Rank #4 (Sell).
Investors interested in the energy sector may consider some better-ranked stocks like Cenovus Energy Inc. (CVE - Free Report) , Natural Gas Services Group, Inc. (NGS - Free Report) and Galp Energia, SGPS, S.A. (GLPEY - Free Report) . While Cenovus Energy and Natural Gas Services currently sport a Zacks Rank #1 (Strong Buy) each, Galp Energia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here..
Calgary, Canada-based Cenovus Energy is a leading integrated energy firm. The company’s operations comprise marketing the produced oil, natural gas and natural gas liquids. The Zacks Consensus Estimate for CVE’s 2025 earnings indicates 26.2% year-over-year growth.
Natural Gas Services manufactures, fabricates, sells, rents and services natural gas compressors that enhance the production of natural gas wells. The Zacks Consensus Estimate for NGS’ 2025 earnings indicates 13.3% year-over-year growth.
Galp Energia is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in oil products refining and marketing, natural gas marketing and sales, and power generation. The Zacks Consensus Estimate for GLPEY’s 2025 earnings indicates 25.7% year-over-year growth.
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Harbour Energy Takes Control of Mexico's Zama Offshore Field
Key Takeaways
Harbour Energy plc (HBRIY - Free Report) has been formally named operator of the Zama offshore oil development in Mexico, following unanimous partner approval and clearance from the Ministry of Energy. Zama is one of the world’s largest shallow-water discoveries of the past decade, with gross recoverable resources estimated at around 750 million barrels of oil equivalent. Harbour Energy holds a 32.22% operated interest, alongside Pemex holding 50.4% and Talos Energy Mexico holding 17.35%.
Development Timeline & Production Outlook
Front-end engineering and design is expected to conclude in 2026, paving the way for a final investment decision (FID) in 2026-2027. Based on industry timelines, first oil could be achieved within 36-48 months post-FID, positioning Zama as a meaningful contributor to production growth by the late 2020s.
Strategic Significance for Mexico’s Energy Sector
Mexico’s crude production has fallen sharply over the past two decades, prompting policymakers to embrace partnership models that combine private-sector expertise with state ownership. Pemex’s financial constraints have further reinforced the need for capable international operators, making Harbour Energy’s appointment a key milestone in Mexico’s offshore energy transformation.
Harbour Energy’s Operational Strength
Harbour Energy brings deep experience in shallow-water developments, operating over 350,000 barrels of oil equivalent per day globally, with a strong legacy in the North Sea. Its operated portfolio already includes Mexico’s Kan field and newly acquired U.S. Gulf of Mexico assets, underscoring its capability to execute complex offshore projects efficiently.
Why Shallow-Water Economics Matter
Shallow-water developments such as Zama benefit from lower capital intensity, shorter development cycles and reduced technical complexity compared with deepwater projects. Harbour Energy’s expertise in subsea tie-backs and infrastructure optimization is well-suited to Mexico’s shelf conditions, supporting cost-effective and timely project delivery.
HBRIY’s Zacks Rank & Key Picks
U.K.-based Harbour Energy is an independent oil and gas company, formerly known as Premier Oil plc. Currently, HBRIY has a Zacks Rank #4 (Sell).
Investors interested in the energy sector may consider some better-ranked stocks like Cenovus Energy Inc. (CVE - Free Report) , Natural Gas Services Group, Inc. (NGS - Free Report) and Galp Energia, SGPS, S.A. (GLPEY - Free Report) . While Cenovus Energy and Natural Gas Services currently sport a Zacks Rank #1 (Strong Buy) each, Galp Energia carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. .
Calgary, Canada-based Cenovus Energy is a leading integrated energy firm. The company’s operations comprise marketing the produced oil, natural gas and natural gas liquids. The Zacks Consensus Estimate for CVE’s 2025 earnings indicates 26.2% year-over-year growth.
Natural Gas Services manufactures, fabricates, sells, rents and services natural gas compressors that enhance the production of natural gas wells. The Zacks Consensus Estimate for NGS’ 2025 earnings indicates 13.3% year-over-year growth.
Galp Energia is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in oil products refining and marketing, natural gas marketing and sales, and power generation. The Zacks Consensus Estimate for GLPEY’s 2025 earnings indicates 25.7% year-over-year growth.