Heirs Oil & Gas Wins PFI’s 2021 African Deal Of The Year Award

Heirs Oil & Gas (HHOG), Africa’s integrated energy company has won the ‘Africa deal of the year 2021 award’by Project Finance International (PFI).

The award to Heirs Oil & Gas (HHOG) jointly owned by Heirs Holdings, and the Transnational Corporation Plc (Transcorp, came following the $1.1 billion financing and acquisition of 45 per cent stake in OML 17 in 2021.

The award ceremony which took place on Monday, May 9 in London was a gathering of senior industry leaders across various sectors to celebrate excellence.

“On behalf of the HHOG team, I would like to thank PFI for this great honour which recognises the OML 17 acquisition deal, while also acknowledging the efforts of the entire team involved in the transaction.” said Executive Director, Heirs Oil & Gas, Samuel Nwanze.

The deal, which was announced in January 2021, saw Heirs Holdings, acquire a 45 per cent participating interest in Nigerian oil license OML 17 and related assets from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI.

While acknowledging the award, Chief Executive Officer, Heirs Oil & Gas, Osayande Igiehon said “This great recognition reiterates our commitment to excellence in our bid to fulfil Africa’s unique energy needs and ensure that Africa’s natural resources are directed toward value creation on the continent.”

The PFI awards is organised by Project Finance International (PFI), a leading source in global project finance reporting, covering all the major sectors, including transport, power, oil & gas, infrastructure and mining.

About Heirs Oil & Gas

Heirs Oil & Gas is an indigenous, integrated energy company, headquartered in Nigeria, with assets including Nigerian oil block OML 17, with a current production capacity of over 30,000 barrels of oil equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential.

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