Pharos has received a US$20m payment from the Egyptian General Petroleum Corporation (EGPC) against its outstanding receivables balance in Egypt. The payment reduces Pharos’s outstanding receivable balance to US$7.4m, the Company’s lowest receivable balance since December 2021. This reduction in the Company’s receivables balance, together with the improved fiscal terms from the new consolidated concession provide the framework for the continued organic reinvestment in Egypt, unlocking long-term ....