From consulting to entrepreneurial decision
Philia’s origins commenced in 2004 when Philia Consulting was set up with a focus on two core businesses: providing consulting services for Chinese and Asian investors in the commodity business in Africa, as well as Russian, Swiss, and African IOCs.
Growth – from Consulting to Trading
In 2010, Philia focused on oil trading and started taking positions in niche markets within the Gulf of Guinea. Progressively it grew its business by trading petroleum products with African private players and state oil companies. In 2012, Philia established itself as an independent trading entity and continued to successfully bid for contracts in Africa. Philia’s trading and supply activities span over fifteen countries in Africa, including Benin, Burkina Faso, Cameroon, Congo, Equatorial Guinea, Gabon, Ghana, Ivory Coast, Mali, Morocco (Bunkering and Shipping), Nigeria, Senegal, and South Africa.
Expansion into Upstream – Exploration and Production
In 2012, Philia signed a farm-in agreement with a private Swiss company in the exploration Marine XIII block located offshore Republic of Congo. The fact that the block was located next to Total and Eni operated producing fields, and the likelihood that this block shared the same petroleum system with the nearby producing fields, was the deciding factor to invest in this block. To date, Philia has developed an in-house technical E&P team consisting of various experts including geoscientists and reservoir engineers who are currently delivering the work program in accordance with the contractual obligations. Some recent achievements include the successful completion of a 3D Seismic Acquisition campaign on the block as well as the reprocessing and reinterpretation of some existing vintage seismic data.
Further Growth – Bunkering
In 2015, Philia set up a bunkering business with the aim of covering the West African region, and consequently aim to serve vessels and offshore oil operations in the Gulf of Guinea. To date, Philia chartered two world class vessels for this activity and boasted a sizable customer base within the first year. Drawing on this positive outlook, the company is pursuing projects for further development in the future.