Pharos Energy PLC Appointment of Non-Executive Director (7672Z)
16 Gennaio 2024 - 8:01AM
UK Regulatory
TIDMPHAR
RNS Number : 7672Z
Pharos Energy PLC
16 January 2024
16 January 2024
Pharos Energy plc
("Pharos" or the "Company" or, together with its subsidiaries,
the "Group")
Appointment of Non-Executive Director
Pharos Energy plc is delighted to announce the appointment of Dr
Bill Higgs as an Independent Non-Executive Director with immediate
effect.
Bill has over 30 years of global exploration, development and
operations experience, including more than 10 years in executive
roles for listed independent exploration and production companies.
He is a qualified geologist with extensive expertise in all
engineering and other technical and commercial aspects of
hydrocarbon exploration, development and production. Most recently,
Bill was Chief Executive Officer of Genel Energy between 2019 and
2022, having served as Chief Operating Officer from 2017. Preceding
his roles at Genel, Bill was Chief Operating Officer for Ophir
Energy plc, responsible for managing the global asset portfolio.
Before that he served as Chief Executive Officer of Mediterranean
Oil and Gas, overseeing the successful sale of the company in 2014.
Bill began his industry career at Chevron, spending 23 years across
a number of global roles.
In parallel with this appointment, Bill will continue his role
as Chairman of Chappal Energies Mauritius Limited, a West
Africa-focussed energy company that has recently embarked on
building a portfolio of upstream assets.
Bill will serve as a member of the ESG Committee, with further
committee assignments to be discussed at the next scheduled meeting
of the Board. Bill will also be the Board representative with
responsibility for oversight of the Group's technical work and
output.
John Martin, Chair, commented:
" I'm delighted that Bill is joining the Pharos Board as an
Independent Non-Executive Director. Bill is a very high calibre
appointment that will bring a wealth of technical and commercial
experience to the Board. I expect him to add significant value to
the business as it develops and implements its strategic
objectives, with his initial focus to include maximising value from
our exciting exploration prospects in Vietnam Blocks 125 and
126."
The Company confirms that there are no additional matters
requiring disclosure under LR 9.6.13 of the Listing Rules.
Enquiries
Pharos Energy plc Tel: 020 7747 2000
Jann Brown, Chief Executive Officer
Sue Rivett, Chief Financial Officer
Camarco Tel: 020 3757 4980
Billy Clegg | Andrew Turner | Rebecca Waterworth | Kirsty
Duff
Notes to editors
Pharos Energy plc is an independent energy company with a focus
on sustainable growth and returns to stakeholders, which is listed
on the London Stock Exchange. Pharos has production, development
and/or exploration interests in Egypt and Vietnam. In Egypt, Pharos
holds a 45% working interest share in the El Fayum Concession in
the Western Desert, with IPR Lake Qarun, part of the international
integrated energy business IPR Energy Group, holding the remaining
55% working interest. The El Fayum Concession produces oil from 10
fields and is located 80 km southwest of Cairo. It is operated by
Petrosilah, a 50/50 joint stock company between the contractor
parties (being IPR Lake Qarun and Pharos) and the Egyptian General
Petroleum Corporation (EGPC). Pharos also holds a 45% working
interest share in the North Beni Suef (NBS) Concession in Egypt,
which is located immediately south of the El Fayum Concession. The
first development lease on the NBS Concession was awarded in
September 2023 and production started in December 2023. IPR Lake
Qarun operates and holds the remaining 55% working interest in the
NBS Concession. In Vietnam, Pharos has a 30.5% working interest in
Block 16-1 which contains 97% of the Te Giac Trang (TGT) field and
is operated by the Hoang Long Joint Operating Company. Pharos'
unitised interest in the TGT field is 29.7%. Pharos also has a 25%
working interest in the Ca Ngu Vang (CNV) field located in Block
9-2, which is operated by the Hoan Vu Joint Operating Company.
Blocks 16-1 and 9-2 are located in the shallow water Cuu Long
Basin, offshore southern Vietnam. Pharos also holds a 70% interest
in, and is designated operator of, Blocks 125 & 126, located in
the moderate to deep water Phu Khanh Basin, north east of the Cuu
Long Basin, offshore central Vietnam.
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