Pharos Energy embarks on multi-well campaign on two fields offshore Vietnam

Pharos Energy has initiated a six-well development and appraisal drilling campaign on the TGT and CNV fields offshore southern Vietnam.

The company expects all the wells to be brought into production quickly via existing offshore infrastructure. All work should be completed by mid-2026 at an estimated cost of $36 million.

The line-up for TGT, managed by the GunnLod drilling rig, comprises three infill wells and an appraisal well (TGT-18X) on the western area, with the latter due to spud in early December.

A second rig, Thor, will mobilize to CNV in early November to drill the CNV-8P infill well (expected to take 90 days), followed by the CNV-5X appraisal well on the northern part of the field in mid-February.

Pharos expects this well to take 108 days to complete. If the overall program is successful, the company believes material volumes could be added to current production levels alongside de-risking of further development opportunities.