# Pharos Energy enters 2026 with Egyptian reset and Vietnam drilling in view

- Link: https://www.directorstalkinterviews.com/pharos-energy-enters-2026-with-egyptian-reset-and-vietnam-drilling-in-view/4121247456
- Published: 2026-03-31T11:34:00+01:00
- Author: Amilia Stone

Pharos Energy is moving into 2026 with a clearer operational shape and a stronger
sense of where its next phase of investor relevance may come from. The latest coverage
around the company points to a business that has improved the structure of its Egyptian
position while preparing for a more meaningful drilling phase in Vietnam.

In Egypt, Pharos reported production of around 1,303 barrels of oil equivalent per
day for the year ended 31 December 2025. Its outlook for 2026 in the country is 
set at around 1,200 to 1,450 barrels of oil per day, while group working interest
production guidance has increased to 5,200 to 6,400 boepd net. That leaves Egypt
as an important part of the portfolio. The stronger investor angle lies in the change
to the commercial framework rather than in production alone.

The company has secured approval from the EGPC Executive Board for a consolidated
concession agreement in Egypt with improved fiscal terms. That matters because it
appears to give Pharos a better platform for reinvestment and longer-term planning.
The agreement includes 20-year lease extensions and is described as delivering an
immediate uplift in value. It also comes with a committed work programme that includes
two wells, with multiple targets identified following the completion of 3D seismic
data processing and interpretation in North Beni Suef. Parliamentary ratification
is expected later in 2026, with a retroactive date of 5 October 2025 applying.

Operationally, activity in Egypt is also picking up. A second rig has been contracted
for work in North Beni Suef alongside a separate rig for El Fayum. A six-well programme
has been approved and preparations are under way, with drilling of the first well
due to begin shortly.

_**[Pharos Energy Plc](https://www.directorstalkinterviews.com/company/pharos-energy-plc/phar.l)**(
LON:PHAR) is an independent energy company with a focus on delivering long-term 
sustainable value for all stakeholders through regular cash returns and organic 
growth, underpinned by a robust cash flow and resilient balance sheet._

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