Our approach
Our goal is to be a positive presence in the regions where we operate, by providing responsible and sustainable development, resulting in value for host countries and local communities as well as for our own shareholders and employees.
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.
We are committed to doing business honestly, ethically and safely. We manage our risks and seek to minimise any potential adverse impacts. We aim to align our practices and operations with the United Nations Sustainable Development Goals, and contribute to host country development goals, such as access to energy.
Environment
- 254 tonnes CO2e/1000 tonnes of hydrocarbon produced by equity share in 2020
- 4 oil/chemical spills (quantities greater than 100 litres)
Society
- $500,000 combined total training levies in Vietnam and Egypt for investment in industry capacity building in 2020
- $245,191 community and charitable investments supporting 9 partnerships and projects in Vietnam through the HLHVJOC Charitable Donation Programme and 3 community projects in Egypt through Petrosilah in 2020
Business
- 100% El Fayum oil, c.74% TGT & CNV oil sold and used domestically in 2020, contributing to host country development goals and access to energy
Ethics
- $150.9m taxes and royalties to host governments in 2020, includes $113.7m host governments share of production entitlements
- 100% of staff receive anti-bribery and corruption training by 02 February 2021
People
- 0 Lost time injury in Vietnam since inception
- 1 Fatal accident in Egypt in 2020. Remedial actions taken to strengthen controls within subcontractors to minimise risk of any future recurrence
