Indonesia's Ministry of Energy has confirmed the signing of a contract with units of Harbour Energy and Mubadala Energy for the development of the Central Andaman oil and gas block, reported Reuters.

This marks the first utilisation of a new gross split scheme, simplifying the contracting process for energy projects.

The Central Andaman block offshore northern Sumatra island boasts estimated resources of 100mbbl of oil and 500bcf of gas, based on data provided by the Energy Ministry.

Harbour Energy also announced it has entered into a participation agreement with Pan American Energy and Golar LNG to acquire a 15% stake in Southern Energy.

Southern Energy is currently developing a floating liquefied natural gas (FLNG) export project in Argentina.

The project will utilise Golar LNG's Hilli Episeyo FLNG vessel situated offshore Rio Negro province. This vessel is expected to have a production and export capability of 2.45 million tonnes per annum of LNG or 11.5 million cubic metres per day of natural gas.

In October 2024, Harbour Energy commenced production at its Talbot development, a three-well subsea tieback located 16km south-east of the Judy platform in the UK North Sea.

Harbour owns 67%, while Ithaca Energy holds 33%.

The project involves a 15km pipeline and chemical control umbilical, with gas transported via CATS to the Teesside Gas Processing Plant and oil exported through Norpipe to the Teesside terminal.

Also, Harbour Energy is exploring the sale of stakes in several North Sea oilfields.  

The British producer is also revisiting plans for a US listing, following a trend among operators to reduce investments due to the increase in tax on the sector announced in October, as reported by Reuters.

The UK Government intends to use the additional revenue for renewable energy projects.