North Beni Suef
The North Beni Suef is located south of the El Fayum concession in the low-cost highly prolific Western Desert, about 80km south west of Cairo and close to local energy infrastructure.
The Group was successful in their bid for the North Beni Suef concession in February 2019, following a bid round. Pharos has a 100% working interest. The first three-year phase will involve seismic and the drilling of two exploration wells. There are no drill commitments in the first three years.
The existing data base include 3,101km 2D seismic, 1,625km2 3D seismic and 8 wells.