Previously known as SOCO International plc, Pharos Energy plc is a UK-based independent oil and gas exploration and production company. It has production, development and exploration interests in 3 countries, which are Egypt, Israel and Vietnam. It was founded in the year 1997, and its headquarters are situated in London. The company is listed and traded on the London Stock Exchange since 1997. It employs 71 people, and has many subsidiaries, which include Merlon Petroleum El Fayum Company, SOCO Exploration Thailand Co. Ltd., SOCO Exploration and Production Congo, and SOCO SEA Limited etc.
Sustainability is at the heart of its business, and the goal of the company is to create and maximise the long-term value for all its stakeholders. It carries out exploration in 12 oil and gas fields across its area of operation, with 14 blocks and licences having an acreage of around 20,537km2. Sustainable growth is targeted by creating a strong portfolio in the energy regions of Asia and MENA. Pharos Energy works in collaboration with communities, countries, and Governments, and acts as a responsible business keeping the ESG agenda in mind while focusing on profitability. It follows a strict capital allocation process with low operating cost while focusing on financial prudence and modest gearing.
The company has a defined framework of corporate governance and aligns itself with the 2018 UK Corporate Governance Code. The board of the company has set up separate committees for remuneration, nomination, audit & risk, and ESG. It has an ethical code of conduct for running its business operations and promotes a culture of trust, transparency, and accountability. Apart from fulfilling all its corporate responsibilities, the company also fulfils its environmental and social responsibilities. It has a comprehensive Environmental, Social & Governance (ESG) framework in place and complies with international best practices and guidelines to create a sustainable business, such as the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). It aims to minimize the impact of its business activities on the environment and create long-term value for the business as well as the wider community. It engages in regular dialogues with national and host governments as well as shareholders, and also carries out Environmental and social impact assessments and grievance mechanisms at project level.
Pharos Energy PLC 48 Dover Street LONDON W1S 4FF United Kingdom GBR
+44 207 747 2000