Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

U.K.-based Pharos Energy, an independent energy company with assets in Vietnam and Egypt, has started a six-well drilling campaign offshore Vietnam designed to lift production from two of its existing fields and open new development opportunities.

The fully funded program, with total capital expenditure of around $36 million, will run through mid-2026 and target both the Te Giac Trang (TGT) and Ca Ngu Vang (CNV) fields, at Vietnam’s Block 16-1 and Block 9-2, respectively, where the company holds producing interests.

Operations began on October 18, with the first infill well on the TGT field’s H1 fault block. The campaign comprises four wells at TGT – three infill and one appraisal – and two wells at CNV, also split between infill and appraisal targets.

Two Borr Drilling’s jack-up rigs, the GunnLod and Thor, will operate in parallel. The GunnLod rig will handle drilling at TGT, while Thor will focus on CNV.

At TGT, drilling and completion of the first H1 infill well are expected to take 28 days. The rig will then move to the H5 infill location before beginning the TGT-18X appraisal well in early December, a 40-day operation targeting the block’s untapped western area.

A final TGT infill well, TGT-H4, will follow, with drilling at the field expected to wrap up in the first half of 2026.

On CNV, the Thor rig is due to mobilize in early November and start work in mid-November with the CNV-8P infill well, estimated to take 90 days. The CNV-5X appraisal well, designed to test the field’s northern potential, will follow in mid-February and take about 108 days to complete.

Pharos said all wells can be brought immediately into production via existing infrastructure, allowing any successful wells to add incremental volumes swiftly.

“We are delighted to begin our six-well infill and appraisal drilling program in Vietnam, starting with the first infill well on TGT. This important and material campaign is the most significant investment into our Vietnamese assets since the initial development and is designed to drive material production growth from both fields from 2026 onwards,” said Katherine Roe, Chief Executive Officer of Pharos Energy.

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