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
- 281 tonnes CO2e per 1,000 tonnes of hydrocarbon produced in 2023
- 2 oil/chemical spills (quantities greater than 100 litres) in Egypt in 2023
Society
- $500,000 combined total training levies in Vietnam and Egypt for investment in industry capacity building in 2023
- $247,373 community and charitable investments supporting 22 social projects in Egypt, Vietnam and UK in 2023
Business
- 100% El Fayum & CNV oil sold domestically in 2023, contributing to host country development goals and access to energy
Ethics
- $188.0m taxes and royalties to host governments, includes host governments share of production entitlements in 2023
- 100% of staff receive anti-bribery and corruption training by 31 December 2023
People
- 0 Lost Time Injury events across Group operations in 2023
- c.65% female employees in London in 2023
