UK-based independent energy company Harbour Energy brought its EZZ-2 discovery in Egypt’s Disouq area online in the third quarter (Q3) of 2026, after successfully tying it into existing infrastructure, the company noted in its trading and operations update.
Harbour said EZZ-2 was connected to existing facilities and began production in Q3, supporting its efforts to replenish reserves and sustain output. The development formed part of the company’s exploration successes during the first nine months of the year, alongside the Omega Sør discovery in Norway.
Egypt contributed approximately 21,000 barrels of oil equivalent per day (boe/d) to Harbour Energy’s North African production in 2025, which averaged 31,000 boe/d, driven by output from the company’s Greater Disouq concession and its 17.25% stake in the bp-operated West Nile Delta project, including the Raven field.
The EZZ-2 development builds on the company’s exploration activities following improved commercial terms agreed with the Egyptian Natural Gas Holding Company (EGAS) in May 2025. The revised framework for Greater Disouq includes a higher gas price, increased cost recovery, and an expanded license area in exchange for a drilling program across the existing and newly awarded areas.
Harbour had previously reported that EZZ-2, discovered in October 2025, was successfully appraised in the first quarter of 2026. The company estimated that the discovery could add reserves equivalent to approximately one year of its existing North African production. Its EZZ-1 discovery was also brought onstream in January 2026, two months after its discovery.
At the group level, Harbour’s revenue increased 29% year-on-year (YoY) to $9.8 billion during the first nine months of 2026. Earnings before interest, taxes, depreciation, amortization and exploration expenses (EBITDAX) rose 26% to $6.8 billion, while free cash flow doubled to $2.4 billion from $1.2 billion.
Group production averaged 501,000 boe/d during the period, up 6% YoY. The increase was supported by the integration of its LLOG assets in the US and Waldorf assets in the UK, which offset natural declines in the UK and divestments in Southeast Asia.
Harbour raised its full-year 2026 production guidance to 500,000-505,000 boe/d, from its previous forecast of 490,000-500,000 boe/d. It also increased its free cash flow outlook by $800 million to approximately $2.6 billion, reflecting higher production and stronger oil and European natural gas prices.
The company reduced its net debt to $5.1 billion at the end of September 2026, down from $5.4 billion at the end of June, and announced an additional $150 million share buyback, bringing its expected shareholder returns for the year to at least $1.2 billion.
