Further to the announcement on 29 March 2019, the Group is pleased to announce the completion of the acquisition of Merlon Petroleum El Fayum Company ("Merlon") from Merlon International LLC (the “...
Agile, decisive & productive
Our production, development and exploration assets in Egypt and Vietnam place Pharos in a good position for future growth.
Pharos have established, valuable assets in Vietnam, with production at two fields (TGT & CNV) and further potential for growth from two additional exploration blocks (125 & 126). We have been present in Vietnam since 1997.
The addition of the El Fayum concession in Egypt has diversified our portfolio, increased our exploration prospects, doubled our reserve position and established extensive new production resources and will provide a solid platform for future expansions.
We act responsibly and have an exceptional safety record by focusing on efficiency and diligent, practical management.
Where we operate
High quality oil production operations and development assets and exploration blocks, building our scale and creating significant opportunities.
Established and valuable assets, with production at two fields and further potential for growth from two additional exploration blocks.
Creating a strategic hub in North Africa and the Middle East
Pharos is currently operating in Egypt and has a focus in the MENA region in addition to its traditional operating hub in South East Asia through responsible management of its current portfolio and careful selection of new opportunities.Find out more
Benefiting countries & communities
We take our role in society very seriously. We are committed to open, transparent communication, and taking a rigorous, conscientious approach to the environment, our role in society, our business practices and ethics, and how we relate to people.Find out more
- 273 tonnes CO2e per tonnes of hydrocarbon produced
- 0 oil/chemical spills (quantities greater than 100 litres)
- $300,000 Total training levy in Vietnam for investment in industry capacity building in 2019
- $245,379 community and charitable investments through the HLHVJOC supporting 12 partnerships and projects in Vietnam in 2019
- 100% El Fayum Oil — Sold and used domestically, contributing to host country development goals and access to energy
- c.99% TGT & CNV Oil — Sold and used domestically, contributing to host country development goals and access to energy
- $232.7m taxes and royalties paid to host governments in 2019
- 100% of staff receive anti-bribery and corruption training
- 0 Lost time injury frequency rate (number of lost time injuries per million man-hours)
- 0 Fatal accident frequency rate (number of fatal accidents per hundred million man-hours)
The Company is pleased to announce the satisfaction of the regulatory conditions to its proposed acquisition (the "Proposed Transaction") of Merlon Petroleum El Fayum Company ("Merlon"), following...
The Group issues the following reserves update for the TGT and CNV fields in Vietnam.