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.


Our people

  • Extensive industry experience
  • Technical expertise & commercial acumen
  • Relationship-driven
  • Diverse & inclusive workforce

Our assets

  • Mix of complementary assets
  • Low-cost onshore drilling in Egypt
  • Mature, short payback in Vietnam
  • Basin-opening frontier offshore exploration in Vietnam

Our capital

  • Rigorous approach to cost
  • Low breakeven oil price in Vietnam
  • Modest gearing
  • Disciplined capital allocation process


We assess opportunities which offer near term cash generation and longer term growth. We generate opportunities from within our existing asset base and balance the value of investing in the business with the value of cash returns to shareholders.

Value outputs

Organic growth opportunities

  • Development of existing discovered resources
  • New exploration prospects and leads in both Concessions in Egypt and in Block 125/126 in Vietnam
  • Conventional and unconventional + exploration potential
Further reading


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.

Value outputs


  • Net Asset Value (NAV) per share growth
  • Regular cash return to shareholders
  • Local capability & trusted partnerships
  • In-country economic contribution and social investment
  • Local employment and capability training
Further reading

Develop & Produce

Our production increases through the development of existing discovered resources. We seek to maximise margins through optimising production at low operating costs. We are committed to responsible and safe operations at all times.

Value outputs

Growth production metrics

  • Safe and responsible operations
  • Development of discovered Egyptian resources through onshore, low cost, in-fill drilling
  • Continued development of Vietnam producing assets through licence extensions and revised field development plans
  • Farm-in partner to support the funding of a commitment well and develop the full potential of Block 125
Further reading