Harbour Energy Regulatory News (HBR)

Harbour Energy

Submission of Zama Unit Development Plan

"Harbour" or "Harbour Energy"

 24 March 2023

Harbour Energy and the other Zama Unit Holders, Petroleos Mexicanos (Pemex), Wintershall Dea, and Talos Energy, are pleased to announce that Pemex, as operator, submitted the Unit Development Plan (UDP) for the Zama field to Mexico's National Commission of Hydrocarbons (CNH) for approval.

The Zama UDP envisages two offshore shallow water platforms and 46 production and water injection wells with the oil and gas to be transported via pipeline to new facilities located in Terminal Maritima Dos Bocas. The UDP minimises greenhouse gas intensity by using best available technology and produced gas for onshore power generation as well as by leveraging existing storage and transport infrastructure.

Further engineering and planning work, including front end engineering (FEED), will continue while awaiting UDP approval from CNH. As part of this project phase, the partners will receive refreshed cost and schedule estimates for the development. A final investment decision (FID) will be taken after the conclusion of FEED.

The Zama Unit partners have also agreed to form an Integrated Project Team (IPT) to manage the delivery of the field development. The IPT is designed to provide technical, operational, and execution expertise drawing on the talents and skills from all partners. The shared goal of the IPT is safe and efficient delivery of first production from the Zama field. 

Separately, Pemex and the Block 7 partners have agreed principal terms related to hydrocarbon sales and the use of Terminal Maritima Dos Bocas (TMDB) facilities based on market indices and standard terms and conditions.

Stuart Wheaton, Harbour Energy EVP International Business commented:

 "We are delighted with the collaboration between our partners which has enabled us to submit the Unit Development Plan for the Zama field on schedule. This marks an important milestone towards delivering safe and efficient first oil from the Zama field which once onstream will contribute significantly to both Harbour's production and Mexico's domestic energy supply."

Enquiries

Harbour Energy plc

Elizabeth Brooks, Head of Investor Relations

020 3833 2421

Brunswick

Patrick Handley, Will Medvei

020 7404 5959

Notes to editors

As per the Unitisation Resolution from March 2022, the initial working interests in the Zama Unit are Pemex 50.43 per cent, operator, Wintershall Dea 19.83 per cent, Talos Energy 17.35 per cent and Harbour Energy 12.39 per cent.