The $11.2bn purchase by London-listed Harbour Energy of the bulk of the assets of the Wintershall Dea upstream unit of German chemicals giant BASF completed on 3 September.
As well as a substantial North Sea position, assets include key gas positions in Egypt and Algeria (MEES, 22 December 2023), with total North Africa output of 39,000 boe/d for 1H 2024. Of this 85% was gas – an implied 186mn cfd gas and 6,000 b/d oil. However, Harbour sees the region as largely providing legacy rather than growth assets with “a focus on production and cost optimisation, reserve additions and infrastructure-led exploration.” (CONTINUED - 550 WORDS)
