HARBOUR ENERGY PLC (LON:HBR)Energy
Founded in 2021, Harbour Energy is a UK-based leading independent oil and gas company. It was formed by an all-shares merger between Premier Oil and Chrysaor. It has a leading position in the UK North Sea with various international growth opportunities and strong financial position. The company aims to deliver high values in responsible manner for all the stakeholders, ensured by strong corporate governance and to be Net Zero by 2035. It employs 1,500 employees across the globe and 80% of production from the UK, where 93% of its reserves are located with global production of >200 kboepd. The company’s objective is to become the leading Oil and Gas company at a global stage by meeting the global energy needs through the safe, efficient, and sustainable production of hydrocarbons and maintaining a strong financial position. The company’s shares are traded on the London Stock Exchange as LON: HBR.
The company operates through eight key locations that include the UK, Norway, Indonesia, Vietnam, Brazil, Falkland Islands, Mexico and Mauritania. The UK’s portfolio consists of producing assets, development assets, pre-development assets and exploration licences. Its offshore operated positions include AELE Hub, East Irish Sea, Greater Britannia, Solan, J-Area, Catcher and Tolmount area located in the Southern North Sea. Its onshore assets include the rivers terminal at Barrow-in-Furness and also have a stake in the Sullom Voe Oil terminal in Shetland. In addition, it has non-operated interest in Elgin/Frankin, Clair, Schiehallion, Buzzard and Beryl and has pipeline system stakes in the Shearwater Elgin Area Line (SEAL), Central Area Transmission System (CATS), European Transmission System (ETS), the West of Shetland Pipeline System (WoSPS), the Graben Area Export Line (GAEL) and the Brent Pipeline system.
The company started its Norway operations in March 2018 through the acquisition of stakes in the PL038D licence holding the Grevling discovery, which is located of the Armada facilities of the UK continental Shelf. In 2021, it was awarded with six licences in the Norwegian APA 2020 Offshore Licensing Round, which include PL1114, PL1093, PL1087 and the other three are operated by Lundin (PL1092, PL1089) and Nepture (PL1113).
The company’s Indonesia’s operation has a major position in the Natuna Sea that supply gas to Singapore. Its assets include Natuna Sea Block A, Tuna Block and Andaman Area. In Natuna Sea Block A the company has 28.67% operating interest with seven producing fields, which include Pelikan, Anoa, Bison, Gajah-Puteri, Gahah Baru, Naga and Iguana. In Tuna Block, it has 50% operating interest and in the Andaman Area it has 20-40% interest with material position in the Andaman Sea, Offshore Aceh, with interest in Andaman I, Andaman II and South Andaman.
The Vietnam operations are done from Chim Sao and Dua oil fields in which it has 53.13 % operated interest. In Brazil, the company has 50% operated interest in Block CE-M-717 and 30% interest in Block CE-M-661. In Falkland Island, the company has a 60% operated interest in PL032 with fully appraised Sea Lion field and 36% interest in PL004 with a farm-out proposed. In Mexico, the company has interest in the Giant Zama Field and consists of offshore licences in Sureste Basin which include Block 7 with 25% non-operated interest, Block 30 with 30% non-operated interest and Block 11 and 13 with 100% operated interest. In Mauritania, the company has Deepwater Block 4 and 5 located in PSC-B, Chinguetti, which is operated by Petronas with 8.1% equity with the company.
HARBOUR ENERGY PLC 23 Lower Belgrave Street SW1W 0NR United Kingdom