The elements for sustained success. Pharos Energy is an independent oil and gas company with a focus on sustainable growth and returns to stakeholders.
We operate with a lean, efficient structure, designed to identify and realise value for all our stakeholders.
As a business, our ability to deliver value is key to our investment case. Capital discipline and financial stability have always been key to the Company and continue to underpin the business.
We take great care with our investors' money
We use our expertise:
- To assess and develop high-grade growth opportunities
- To focus on our cost base wherever we are
- To provide cash returns to shareholders
- To allocate capital to those assets which offer a combination of cash flow and growth
Our people and experience
Pharos Energy is guided by experienced and committed teams in the UK, Vietnam and Egypt.
In London, our finance, legal, commercial, and investor relations teams use their considerable expertise to manage our relationships with the capital markets and provide guidance and support to local management. In Egypt and Vietnam, we have expert operational teams in each region, working closely with joint operating companies.
As we acquire business assets as part of our growth strategy, we integrate the existing management teams to benefit from their regional knowledge and experience, ensuring we grow the assets to their full potential. We apply our expertise locally with operational teams in each region, working closely with joint operating companies.
Our 20-year history with Vietnam has been a success story both for the company and the country
Over $1 billion was invested by the JOC in oil and gas projects located offshore Vietnam, making Pharos one of the largest British investors in the country. Pharos’s current producing interests, the Te Giac Trang and Ca Ngu Vang fields, together, are amongst Vietnam’s largest oil producers.
Pharos’s joint-operations have achieved an outstanding record of safety and have contributed to national economic growth through local sourcing, employment, training and industry upskilling.
Our goal is to be a positive presence and add value in everything we do:
- Our business – to provide responsible and sustainable development
- Our ethics – to conduct our business transparently, honestly and ethically
- Our people – to protect/ preserve the health, safety, security and welfare of our staff and contractors
- Environment – to protect the environment and conserve biodiversity
- Society – to consult with and contribute to our host communities
We are focusing on near-term value-adding activities in Vietnam and Egypt, both of which have the potential to generate free cash flow, and on the longer-term prospects in Israel. Key events for 2021 will include:
- The commencement of sequential infill drilling of four development wells in Q3 2021 in TGT Field
- Preparing for the 3D seismic survey in certain high graded leads in Block 125, following the identification of numerous prospect and leads using the acquired 2D seismic, gravity and magnetic data
- Phase 1B of the Waterflood programme in Q1 2021, following the successful equity placing in January 2021
- The ongoing formal farm-out process for the Company’s assets in Egypt, result expected to be announced Q2 2021 with completion in H2 2021
- Continued interpretation of the large pre-existing 3D seismic survey on the North Beni Suef Concession