{"id":562958,"date":"2021-06-13T03:52:10","date_gmt":"2021-06-13T03:52:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/"},"modified":"2021-06-13T03:52:10","modified_gmt":"2021-06-13T03:52:10","slug":"pharos-energy-strikes-oil-in-fayoum","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/","title":{"rendered":"Pharos Energy strikes oil in Fayoum"},"content":{"rendered":"<p><strong>Pharos Energy finds oil in two reservoirs at Egyptian well: <\/strong>Pharos Energy announced an oil discovery with potential of 4.3 mn barrels in its Abu Rawash Lower \u201cG\u201d reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir, the company said in a <a href=\"https:\/\/www.pharos.energy\/investors\/press-releases\/activity-update\/\">statement<\/a> on Thursday. The discoveries reconfirm the potential of the El Fayoum concession \u2014 in which the company has a 100% working interest \u2014 for further exploration. The <a href=\"https:\/\/www.pharos.energy\/operations\/egypt\/el-fayum\/\">concession<\/a> consists of 10 oil fields over an area of over 1.8k sq km.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Egypt will achieve self-sufficiency in sugar next year<\/strong>, with current production covering 85% of domestic needs, Supply Minister Ali El Moselhi said last week (<a href=\"https:\/\/www.youtube.com\/watch?v=ZydjhTwqvDY&feature=emb_title\">watch,<\/a><a href=\"https:\/\/www.youtube.com\/watch?v=ZydjhTwqvDY&feature=emb_title\">runtime 52:26<\/a>)<\/li>\n<li><strong>Egypt has managed to grow 15 feddans of <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/23\/agriculture-ministry-to-boost-egypts-cultivation-of-drought-rice\/\">drought-resistant rice<\/a><\/strong> for the first time as part of a <a href=\"https:\/\/bit.ly\/3iAWlbS\">pilot project<\/a> in <strong>New Valley<\/strong> governorate to cut back on water usage in rice cultivation.<\/li>\n<li><strong>Egypt could <\/strong><strong><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/414032\/Egypt\/Politics-\/Egypt-to-launch-two-satellites-in-.aspx\">launch two remote sensing satellites<\/a><\/strong> \u2014 called Nexsat 1 and Misrsat 2 \u2014 next year.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Pharos Energy finds oil in two reservoirs at Egyptian well: Pharos Energy announced an oil discovery with potential of 4.3 mn barrels in its Abu Rawash Lower \u201cG\u201d reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir, the company said in a statement on Thursday. The discoveries reconfirm the potential of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[4058,111,317,93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562958","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-ali-el-moselhi","tag-also-on-our-radar","tag-commodities","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"1875010a-535b-4784-abcd-e2d9b25534d2","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[562939],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pharos Energy strikes oil in Fayoum - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pharos Energy strikes oil in Fayoum\" \/>\n<meta property=\"og:description\" content=\"Pharos Energy finds oil in two reservoirs at Egyptian well: Pharos Energy announced an oil discovery with potential of 4.3 mn barrels in its Abu Rawash Lower \u201cG\u201d reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir, the company said in a statement on Thursday. The discoveries reconfirm the potential of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-13T03:52:10+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Pharos Energy strikes oil in Fayoum\",\"datePublished\":\"2021-06-13T03:52:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\"},\"wordCount\":168,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Ali El Moselhi\",\"ALSO ON OUR RADAR\",\"commodities\",\"energy\",\"EnterpriseAM\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\",\"name\":\"Pharos Energy strikes oil in Fayoum - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-06-13T03:52:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Pharos Energy strikes oil in Fayoum\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Pharos Energy strikes oil in Fayoum - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/pharos-energy-strikes-oil-in-fayoum\/","og_locale":"en_US","og_type":"article","og_title":"Pharos Energy strikes oil in Fayoum","og_description":"Pharos Energy finds oil in two reservoirs at Egyptian well: Pharos Energy announced an oil discovery with potential of 4.3 mn barrels in its Abu Rawash Lower \u201cG\u201d reservoir, and a smaller 430k barrel deposit in its Upper Bahariya reservoir, the company said in a statement on Thursday. 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Merlon\u2019s JV PetroSilah will end FY2016-17 having invested around USD 64 mn, below the budgeted amount of USD 88 mn, sources at EGPC\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557380,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/pharos-energy-to-sell-majority-stakes-in-egypt-oil-concessions\/","url_meta":{"origin":562958,"position":1},"title":"Pharos Energy to sell majority stakes in Egypt oil concessions","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Pharos Energy has reached a farmout agreement that will see it sell majority stakes in its two Egyptian oil concessions as it looks to repair its balance sheet following a tough year through covid. The energy company will sell a 55% working interest in each of its El Fayum and\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614105,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/hedging-is-off-the-table-for-wheat-contracts-el-moselhi\/","url_meta":{"origin":562958,"position":2},"title":"Hedging is off the table for wheat contracts - El Moselhi","author":"enterpriseam admin","date":"28 January 2024","format":false,"excerpt":"Egypt\u2019s strategic reserves of wheat currently stand at 4.2 months","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/913.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661969,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/09\/shell-and-partners-withdraw-from-their-red-sea-blocks\/","url_meta":{"origin":562958,"position":3},"title":"Shell and partners withdraw from their Red Sea blocks","author":"enterpriseam admin","date":"9 March 2025","format":false,"excerpt":"PLUS- BP wraps up drilling at its El Fayoum-5 gas well","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/587.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561266,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/also-on-our-radar-on-31-march-2021\/","url_meta":{"origin":562958,"position":4},"title":"Also on our Radar on 31 March 2021","author":"enterpriseam admin","date":"31 March 2021","format":false,"excerpt":"Egypt-Sudan electricity link gets a boost: Siemens Energy was awarded a contract to build two grid stabilization stations in Sudan that will help feed cross-border electric power to Egypt as part of the Egypt-Sudan Electric Interconnection Project. The stations come as Egypt has agreed to invest EGP 450 mn in\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542887,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/more-oil-investment-from-transglobe-pharos\/","url_meta":{"origin":562958,"position":5},"title":"More oil investment from Transglobe + Pharos","author":"enterpriseam admin","date":"23 January 2022","format":false,"excerpt":"Transglobe, Pharos Energy sign USD 506 mn oil E&P agreements: The Oil Ministry signed oil exploration and production agreements with Canada\u2019s Transglobe and London-based Pharos Energy that will see them spend a combined minimum of USD 506 mn, in addition to a USD 67 mn signing bonus, according to a\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562958"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562958\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562939"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562958"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562958"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}