Harbour Energy Takes Control of Mexico's Zama Offshore Field [Yahoo! Finance]
Cenovus Energy Inc (CVE)
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Source: Yahoo! Finance
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%. 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. 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
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