Pharos Energy is preparing to start a six-well campaign on its two blocks offshore southern Vietnam.
In its first-half 2025 operations update, the company said it had signed rig contracts for drilling three infill wells on the producing TGT Field and the 18X appraisal well (in Block 16-1) during the fourth quarter, targeting the untapped western area.
Planning continues for drilling of one infill well on the CNV Field (Block 9-2) and the 5X-LI appraisal well on the northern part of the field.
The rig contracts also provide options for further appraisal wells on TGT and CNV to de-risk additional development opportunities, potentially leading to production growth from 2026 onward.
Offshore eastern Vietnam, the company received an approval in June from the Vietnamese government to extend the PSC exploration periods for blocks 125 and 126 to Nov. 8, 2027.
It has also appointed an adviser to support the process of bringing in a farm-in partner.
Other nearby projects
Earlier this month, Petrovietnam Drilling & Well Service Corp. (PV Drilling) agreed to acquire the jackup Noble Highlander. Following reactivation, the rig will head to Vietnam and should be ready for service by April 2026.
In late August, Hibiscus Oil & Gas Malaysia signed a heads of agreement (HoA) with PetroVietnam Exploration Production Corp .(PVEP). The agreement covers the proposed connection of production from PVEP’s Block 46/13 production sharing contract (PSC) offshore Vietnam to existing facilities in the Hibiscus-operated PM3 Commercial Arrangement Area (CAA) PSC offshore Peninsular Malaysia. PVEP, along with Petronas, is also a partner in the PM3 concession.
