We are building a business focused on generating sustainable returns. We look to grow Pharos through the responsible management of our current portfolio and careful selection of new opportunities, particularly those with near-term lowcost development and, where appropriate, exploration assets with transformative potential within Asia and MENA.
- Extensive industry experience
- Technical expertise
- Commercial acumen
- Mix of complementary assets
- Mature, short payback in Vietnam
- Development drilling in Vietnam
- Low-cost onshore drilling in Egypt
- Low operating cost
- Low breakevens in Vietnam
- Financial prudence
- Modest gearing
- Strict capital allocation process
We assess opportunities which offer a superior risk-weighted return. Our experienced management team identify established high margin, low-risk producing assets enabling geographical asset diversification and an increase in exploration acreage growth leading to value growth. In our assessment of capital allocation processes, we look to take account of the interests of all stakeholders and to balance the value of investing in the business against the value of returns to shareholders.
- Development of existing discovered resources
- New prospects and leads in Egypt, Vietnam and Israel
- Conventional and unconventional + exploration potential
Our investment programme will continue to be allocated over our asset base in a disciplined manner to deliver sustainable returns for our stakeholders. We maintain a culture of prudent financial management, capital allocation, and capital returns.
- Net Asset Value (NAV) growth and share price
- Return to shareholders
- Local capability
- In-country economic contribution and social investment
- Employment and training
Develop & Produce
Our production increases through the development of existing discovered resources. We seek to maximise margins through optimising production and low operating costs. We are committed to responsible and safe operations at all times.
Growth production metrics
- Responsible and safe operations
- Low cost per barrel
- Development of discovered Egyptian resources with our partner IPR
- Continued development of Vietnam assets