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
- 283 tonnes CO2e per thousand tonnes of hydrocarbon produced
- 30% reduction of flared gas in 2019
Society
- $400,000 Combined total training levies in Vietnam and Egypt for investment in industry capacity building
- $245,379 community and charitable investments through the HLHVJOC supporting 12 partnerships and projects in Vietnam in 2019
Business
- 100% El Fayum oil, c.99% TGT & CNV oil sold and used domestically, contributing to host country development goals and access to energy
Ethics
- $232.7m taxes and royalties paid to host governments
- 100% of staff receive anti-bribery and corruption training by 31 January 2020
People
- 0 Lost time injury frequency rate (number of lost time injuries per million man-hours) for both employees and contractors
- 0 Fatal accident frequency rate (number of fatal accidents per hundred million man-hours) for
both employees and contractors
