Heirs Energies, Africa’s foremost indigenous-owned integrated energy company is celebrating its third anniversary with a record of significant production of 40,000 barrels per day. Heirs Energies launched in January 2021, following the completion of an 8-year, $1.2 billion transaction to acquire oil license OML17, from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI, and solidifying the joint venture partnership with NNPC.
The Chairman of Heirs Energies, Tony Elumelu, expressed his pride, while reflecting on his vision for Heirs Energies, stating, “As someone from the Niger Delta, I had seen firsthand how Nigeria’s resource wealth can be mishandled. The energy sector was an industry that had frankly not served Nigeria’s interests. I knew Nigeria could do better and control her destiny. My vision was to build Africa’s largest indigenous-owned integrated energy company focused on Africa’s unique energy needs.
Looking back, Elumelu said Heirs Energies has become a role model institution within the energy sector.
Milestones, and achievements within three years of operations include a significant rise in oil production, steady gas production for domestic use, top-quartile safety records, community engagement that works, and a world-class Nigerian organisation.
“At a time when Nigeria needs to optimise output, Heirs Energies’ oil production has surged from 27,000 to 40,000 barrels a day. Theft and losses which reached a peak of 97 per cent in late 2021, has now been reduced to less than 15 per cent, with definitive actions taken by Government to address the pipeline security and related concerns’, he said.
Heirs Energies commenced gas production and has rapidly become an an important contributor to the domestic gas supply in Nigeria. 100 per cent of gas produced goes into the domestic market to meet local demand, providing energy to thousands of households, supplementing power plants, and supporting various gas reliant industries in the region.
The company currently boasts three incident-free years, maintaining zero Loss Time Injury (LTI) operations in OML 17 with 1.5 million man-hours.
Elumelu said Heirs Energies continues to live up to a philosophy of a shared destiny with local communities, by seeking out local talent and creating entrepreneurs. Over 300 young people have been empowered through skill acquisition programmes, while the electrical infrastructure upgrades across host communities have impacted a population of over 270,000 people.
He commended the team, sharing his deep gratitude for their commitment to his vision of creating value for all stakeholders within the energy sector, stating, “I want to take this opportunity and mark this anniversary, by saluting and thanking the Heirs Energies team, led by CEO, Osa Igiehon. Your hard work, dedication, and expertise have enabled us to become a role model within the energy sector, as we strive toward our purpose of improving lives and communities across our continent.’
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