Woodfields Energy Resources Limited

Block B Capital Place 11 Patrice Lumumba Road
Accra, 
Ghana
+233 302 781124
  • Booth: 8054


Welcome to Woodfields Energy Resources Limited

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.


 Press Releases

  • On 25th May, 2011, the Ghana National Petroleum Corporation (GNPC) on behalf of the Ghana Group comprising Government of Ghana (GoG) and GNPC successfully lifted a total of 994,691 barrels of Jubilee crude oil from the FPSO Kwame Nkrumah using a Belgian flagged vessel MT "FELICITY".

    The cargo of 994,691 barrels lifted is made up of accumulated government royalty of 275,346 barrels and accumulated GNPC 13.75% participating interest entitlement of 719,345 barrels. The vessel has since set sail to deliver the cargo to a Total Refinery, in the port of Fos, France.

    GNPC, with the assistance of Vitol and Woodfields Energy Resources (formerly Cirrus Energy Services) successfully marketed the cargo on the best available commercial terms. The premium achieved over Dated Brent obtained was an improvement over previous Jubilee crude oil liftings.

    Based on current price trends Ghana expects to realize about $108 million from the sale of Ghana’s second lifting. The final value will be determined by 1st June, 2011 as the average of five consecutive days of Dated Brent prices published in Platt’s Crude Oil Market wire.

    Vitol/Woodfields were selected to assist GNPC market and trade Ghana’s entitlements of Jubilee crude oil for 2011 and are discussing with GNPC the possibility of a longer term joint venture marketing relationship which would enable GNPC to further develop its petroleum marketing and trading capabilities.

    About GNPC / Vitol SA and Woodfields Energy Resources
    GNPC was established as a State-owned entity by PNDC Law 64 of 1983 ‘’to undertake the exploration, development, production and disposal of petroleum’’. GNPC was established to support the Government’s objective of providing adequate and reliable supply of petroleum products and reducing the country’s dependence on crude oil imports through the development of the country’s own petroleum resources.

    Vitol SA is one of the world’s largest independent energy trading companies. It is a significant participant in global crude oil markets and crude oil is the largest part of Vitol’s total energy portfolio.

    Woodfields Energy Resources is a leading Ghanaian trading and bulk petroleum products distributing company.

    Platts is a leading global provider of energy and metals information and a foremost source of benchmark price assessments in the physical energy markets.

    Participating interests of Jubilee Partners are: Ghana National Petroleum Corporation (GNPC)-13.75%; Tullow Ghana Limited-34.70%; Kosmos Energy Ghana HC-23.49%; Anadarko WCTP-23.49%, Sabre Oil and Gas Holdings Limited-2.812% and the EO Group-1.75%.
  • Italian oil firm Eni, which has invested US$7 billion in Ghana's Offshore Cape Three Points (OCTP) oil and gas fields, has been awarded, following the ratification by the Parliament of the Republic of Ghana, a new exploration licence, the Cape Three Points Block 4, in the prolific Tano basin, offshore Ghana, ClassFMonline.com has gathered.

    This acquisition will further strengthen the company’s position in the Ghanaian offshore.

    The Cape Three Points Block 4 licence was awarded to a joint venture which involves Eni Ghana (with 42.4691% stake) as operator, Vitol Upstream Tano (with 33.9753% stake), Ghana National Petroleum Corporation (GNPC with 10% stake), Woodfields Upstream Ghana (9.5556% stake), and GNPC Exploration and Production Company (Explorco, 4% stake).

    The new block covers an area of 1,127 square kilometres in water depths ranging from 100 to 1,200 meters and partially surrounds the OCTP block also operated by Eni.

    In the event of a successful exploration outcome, the block will benefit from the OCTP project infrastructures, currently under development.

    Eni operates the OCTP project, which involves the integration and synergic development of the various oil and gas discoveries (Sankofa Main, Sankofa East and Gye-Nyame).

    The project envisages the development of subsea wells tied-back to an FPSO which will be connected to shore via a gas transport line.

    The OCTP oil production start-up is expected in 2017 while the gas production, which will supply the domestic market for power generation, is expected in 2018.

    Eni has been present in Ghana since 2009 where it operates through the subsidiary Eni Ghana. In the country, the company has also undertaken important social programmes including the Health Project in the Western Region for the benefit of a population of over 300,000 people.
  • (Mar 26, 2018)

    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.


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