The story of AOG Energy began in 1987 when our founding partners realised that they were too ambitious for their previous employer. Their lively "can-do" spirit and instinctive ability to recognise investment opportunities were the driving forces that remain characteristics of the group to this day.
AOG started in oil trading before quickly diversifying into oil product storage and distribution in sub-Saharan Africa. We merged our trading and downstream operations into an integrated platform, Oryx Energies, in early 2013, to better serve the energy needs of the region.
In 1994, we entered the upstream oil exploration and production business with the creation of Addax Petroleum, operating primarily in Africa and the Middle East; this was, subsequently, listed in 2006 and sold to Sinopec in 2009. We re-entered the upstream sector with the creation of Oryx Petroleum in 2010, leveraging our experience to take further advantage of the opportunities in this area. AOG funded its initial exploration activities from its creation in 2010 to its Initial Public Offering (IPO) on the Toronto Stock Exchange in May 2013. During that period, Oryx Petroleum gained interests in seven license areas and filed a first discovery in Iraqi Kurdistan. In April 2016, AOG welcomed Zeg Oil and Gas ("Zeg Oil"), a privately-owned firm based in the Kurdistan Region of Iraq, as a new shareholder and industrial partner in Oryx Petroleum, to enable the company to pursue its appraisal and production plans in the region. AOG remains the controlling shareholder.
We also developed a Greenfield bioenergy and renewable electricity initiative, Addax Bioenergy, which was launched in 2008, in Sierra Leone. It was recognised as a model for sustainable development in the region and produced its first ethanol in 2014 and made first sales in early 2015. We transferred majority ownership to a group of investors led by Sunbird Bioenergy Africa in 2016 to continue the necessary investments to take the operation to commercial success, while retaining a 24.9% stake.