Pharos Energy plc is an independent oil and gas exploration and production company. The company operates primarily in South East Asia and Egypt, focusing on the exploration, development, and production of oil and gas resources.
Geogr Segments
The company’s operations are segmented into two primary geographical regions: South East Asia and Egypt.
The South East Asia segment operates two producing assets, the Te Giac Trang (TGT) and Ca Ngu Vang (CNV) fields, along with two exploration blocks (...
Pharos Energy plc is an independent oil and gas exploration and production company. The company operates primarily in South East Asia and Egypt, focusing on the exploration, development, and production of oil and gas resources.
Geogr Segments
The company’s operations are segmented into two primary geographical regions: South East Asia and Egypt.
The South East Asia segment operates two producing assets, the Te Giac Trang (TGT) and Ca Ngu Vang (CNV) fields, along with two exploration blocks (Blocks 125 and 126). The TGT field is located in Block 16-1 offshore Vietnam, while the CNV field is situated in Block 9-2, also offshore Vietnam. The company’s production activities in Vietnam are characterized by a focus on optimizing production through well interventions and the successful completion of drilling programs.
The Egypt segment is primarily focused on oil and gas production, with a commitment to maintaining high operational standards and ensuring compliance with local regulations.
Business Strategy
The company’s business strategy is centered around delivering value through growth and investment in its oil and gas exploration and production activities. The company aims to maximize production from its existing assets while exploring new opportunities for expansion in both South East Asia and Egypt. The company’s strategy includes a commitment to maintaining high standards, ensuring compliance with local regulations, and engaging with stakeholders to foster positive relationships.
The company recognizes the importance of sustainability in its operations and is dedicated to minimizing its environmental impact. The company’s approach to sustainability includes the implementation of best practices in environmental management, community engagement, and ethical business conduct.
The company’s strategic focus also includes the continuous evaluation of its asset portfolio to identify opportunities for improvement and growth. The company actively assesses its exploration and production activities to ensure that they align with its long-term objectives and market conditions. The company’s strategy is supported by a robust risk management framework that enables it to navigate the complexities of the oil and gas industry while pursuing its growth objectives.
Products and Services
The company’s primary products and services revolve around oil and gas exploration and production. The company engages in the exploration of oil and gas reserves, the development of production facilities, and the extraction of hydrocarbons from its licensed areas.
The company’s oil and gas sales are recognized when the company satisfies performance obligations by transferring oil and gas to customers. The company’s sales agreements typically stipulate that title to oil and gas transfers to customers at the same time as physical possession is taken.
In addition to its core exploration and production activities, the company also engages in investment revenue generation, which is accrued on a time basis by reference to the principal outstanding and at the effective interest rate applicable.
Customers
The company’s customer base includes various entities involved in the energy sector, including refineries, distributors, and other industrial consumers of hydrocarbons.
Sales and Marketing
The company employs a variety of marketing and distribution channels to promote its products and services in the oil and gas market. The company’s marketing efforts are focused on building strong relationships with customers and stakeholders, ensuring that its products are effectively positioned in the market.
The company’s distribution channels are designed to facilitate the efficient delivery of oil and gas products to customers, ensuring that the company meets its performance obligations in a timely manner.
History
The company was founded in 1997. It was incorporated in 1997.The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in 2019.
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