Harbour Energy Starts Production at EZZ-2 in Egypt
The Disouq area project began output in the third quarter of 2026 as the company lifted its full-year production guidance.
Updated on Nov. 8, 2026 in Oil and Gas
Harbour Energy started production from its EZZ-2 discovery in Egypt's Disouq area in the third quarter of 2026. The company also raised its full-year 2026 production guidance to 500,000-505,000 barrels of oil equivalent per day.
Why it matters
The EZZ-2 start-up follows exploration activity under revised commercial terms agreed with Egypt's EGAS in May 2025, which included a higher gas price and an expanded license area. The project is also expected to add reserves equivalent to roughly one year of Harbour's existing North African production.
Harbour reported first nine months 2026 revenue of $9.8 billion, up 29% year-on-year, and EBITDAX of $6.8 billion, up 26%. Net debt fell to $5.1 billion at the end of September 2026, while free cash flow reached $2.4 billion.
The players
Harbour Energy
A UK-headquartered independent oil and gas producer with operations in the North Sea, North Africa, the US and Southeast Asia.
Egyptian General Petroleum Corporation (EGAS)
Egypt's state-owned national gas and petroleum company that agreed revised Greater Disouq commercial terms with Harbour in May 2025.
The details
EZZ-2 was discovered in October 2025, appraised in the first quarter of 2026, and connected to existing facilities before production began in the third quarter. The sister EZZ-1 well was brought onstream in January 2026, and Harbour's group output was supported by integrated LLOG assets in the US and Waldorf assets in the UK.
Timeline
October 2025: EZZ-2 discovered in the Disouq area.
January 2026: EZZ-1 brought onstream.
Q1 2026: EZZ-2 appraised.
Q3 2026: EZZ-2 begins production.
End of September 2026: Net debt reduced to $5.1 billion.
Market Landscape
The EZZ-2 start-up is part of Harbour's push to grow North African output, which reached about 31,000 boe/d in 2025 and now sits alongside the company's North Sea and US assets. The project shows how Egyptian gas-development terms are being used to attract independent producers into the country's Nile Delta basins.
For consumers, the project's effect on energy prices is indirect and will depend on how EZZ-2 output compares with the wider supply picture. Harbour's stronger free cash flow outlook of about $2.6 billion for 2026 points to continued capacity to fund further development.
The takeaway
Harbour's EZZ-2 start shows that revised host-government terms can move a discovery into production within months of appraisal. Watch the company's full-year output against its 500,000-505,000 boe/d guidance to gauge how much of the Disouq potential is converting into supply.
Further reading
For more on upstream projects and output trends, see our Oil and Gas coverage.
Source note: This article includes information reported by Egypt Oil & Gas | Connecting The Pieces.
