We are Ghana’s leading indigenous oil and gas holding group. Our entrepreneurial instincts have resulted in the growth of a diversified oil and gas business, with successful operations spanning the downstream, midstream and upstream segments of the industry.
After three decades, we continue to create and develop some of the industry’s brightest opportunities, in Ghana, our home market, where we are excited by and focused on niche fuels and the development of solutions for some of the country’s challenging fuel supply challenges. Increasingly, following successful experiences in the E&P sector we are excited by prospects along the Gulf of Guinea which are worth pursuing and represent a great fit for our skills and experience.
What We Do
Our participation in the oil and gas business spans downstream through to upstream operations. We have built the following businesses to deliver on our ambitions in the market:
§ Cirrus Oil Services: As Ghana’s first licensed bulk oil distributor, Cirrus has been a leading distributor of gasoil, gasoline, and aviation turbine kerosene, among other fuels for decades into Ghana and West Africa. Cirrus continues to be the sole supplier of 95-ron gasoline in the market. For the greater part of the last decade, Cirrus has represented over 20% market share of the distribution of fuels in Ghana. Our joint venture with Vitol S.A the world’s largest oil trader created Trigon Energy, a pioneer in the distribution of petroleum products to the landlocked markets of Burkina Faso and Mali, from Ghana.
Cirrus Oil has worked with a variety of partners, particularly Vitol, to supply the Tema Oil Refinery (Ghana) with crude oil. Cirrus Oil’s trading and supply has also secured contracts to provide oil for a number of power plants in the Tema power enclave.
§ Cirrus Oil Terminals: Our terminal business was the first privately-owned depot in Ghana. Today, we have 70,000 cubic meters of gasoline, gasoil and ATK storage in Tema and Takoradi. An additional 60,000 cubic meters of storage is near completion in Tema, whiles we are planning to service the power industry with new facilities distributing gas and fuel oils, both in the Tema and Takoradi enclaves.
In Takoradi, we built a 5km pipeline network that allows us to back-load vessels from our terminal. This has put us in a leading position in the bunkering of supply vessels for upstream oil operations offshore.
§ Tel Energy: Our oil marketing operation is a Top 15 player, by market share, in a market with over 100 operators. This growth has been achieved entirely organically. We are hoping to supplement this with some acquisitive actions in the near future to grow this business even further.
§ Woodfields Energy Resources: This has operated as an investment vehicle and business development operation enabling us to take advantage of asymmetric opportunities in the marketplace. An example is the financing we arranged for the building of the Residual Fluid Catalytic Cracker for the Tema Oil Refinery. This was jointly underwritten by Vitol S.A and Standard Chartered Bank, plc.
§ Woodfields Upstream Limited: Woodfields Upstream Limited represents our upstream oil and gas interests. As partners to Eni, GNPC, and Vitol, we are exploring Block 4, Offshore Cape Three Points. We also are an interested party in the Sankofa-Gye Nyame fields as part of the Offshore Cape Three Points block, operated by Eni.
Through Woodfields Upstream Limited, we are currently building a world-class oilfield services business that will be led by Ghanaian executives. The goal is to develop an indigenous service provider to support the offshore upstream activities in Ghana and then along the Gulf of Guinea.