PEMEX Cedes Zama Leadership to Harbour

Harbour Energy has been officially appointed as the operator of the Zama offshore oil project in Mexico, marking a pivotal development in the nation’s upstream sector. The new operatorship was agreed by the project’s partners, PEMEX, Grupo Carso and Talos Energy Mexico, and was subsequently approved by SENER,with the NOC ceding its role as main operator.

The Zama oil field, located in the Sureste Basin off the coast of Tabasco state, is one of the most significant offshore discoveries in Mexico in recent decades, with gross recoverable resources estimated at roughly 750MMboe. It was first discovered in 2017 and appraised in 2018 and 2019, but its development has faced delays and complex negotiations over control and operational leadership.

Under the new arrangement, Harbour Energy holds a 32.22% operating interest in Zama, while PEMEX retains a majority stake of 50.4% and Talos Energy Mexico holds 17.35%. Project partners will have the option to appoint key personnel to Harbour’s project team, reflecting a collaborative approach to the field’s development as engineering and design work moves forward. The partners plan to complete front-end engineering and design (FEED) in 2026, laying the groundwork for a final investment decision (FID) in late 2026 or 2027.

Harbour’s appointment as operator represents a shift in operational strategy for the Zama field. Historically, PEMEX served as operator following earlier contention among partners over control of the asset, including disputes about operational leadership and development timelines. In 2022 a unitisation resolution was reached among partners, paving the way for joint management of the project.

The development of Zama is expected to involve substantial capital investment, with earlier estimates suggesting over US$4 billion could be required to fund installations. These include two shallow-water platforms and dozens of production and water injection wells, linked by pipelines to onshore processing infrastructure at the Dos Bocas Maritime Terminal in Tabasco state. Zama’s development is expected to contribute materially to Mexico’s domestic energy supply once it comes online.

Harbour Energy’s expanded role in Zama comes amid broader efforts by the company to grow its international presence. In addition to Zama, Harbour operates the nearby Kan oil field offshore Mexico, where appraisal work in 2025 increased estimated resources, positioning the field for future development phases. Harbour’s portfolio also includes assets in Norway, the United Kingdom and Argentina, which together comprise the majority of the company’s resource base, and the firm has recently pursued strategic expansions such as its planned acquisition of LLOG Exploration Company in the United States.

Industry analysts see Harbour’s operatorship as part of a larger trend in Mexico’s energy sector, in which private companies play a more significant role in advancing resource development while the state retains substantial ownership. Mexico’s upstream sector has navigated challenges including declining production over recent years, PEMEX’s financial constraints and the need for capital and expertise to bring complex offshore developments to fruition. Harbour’s appointment at Zama aligns with these strategic priorities, combining international technical experience with domestic participation.

For Mexico, the Zama project remains a cornerstone of its energy ambitions. Although the country’s production has declined significantly from peaks in the early 2000s, strategic offshore assets such as Zama offer potential to bolster output and reinforce long-term energy security. The field’s estimated recoverable resources, coupled with its shallow water location, make it more economically feasible compared with deepwater developments, and Harbour’s track record in similar environments could help accelerate progress toward first production.