Pharos Energy plc (LON:PHAR), an independent energy company with assets in Vietnam and Egypt, has announced that it has received approval from the Vietnamese Government for the two-year extension of the Exploration Period (from 9 November 2025 to 8 November 2027) of the Blocks 125 & 126 Production Sharing Contract (PSC).
Katherine Roe, Pharos Energy Chief Executive Officer, commented:
“We are pleased to have secured approval from the Vietnamese Government for the two-year extension of the Blocks 125 & 126 Exploration Period. This approval reflects the Government’s continued support as we progress our active discussions with potential farm-in partners and rig contractors to complete all necessary preparations ahead of drilling the commitment well on Block 125. We are committed to pursuing this exciting opportunity, and this extension allows us to retain optionality for the prospect to be drilled, whilst investing in near term production growth in our producing assets in Vietnam.”
