Lagos, Jan. 22, 2024: Heirs Energies Ltd. says it has increased its oil production from 27,000 to 40,000 barrels daily within three years of operations.
Ms Chidimma Ugbojiaku, Head, External Relations, Heirs Energies, disclosed this in a statement on Sunday in Lagos.
Ugbojiaku said that the firm was launched in January 2021 after the completion of an eight-year 1.2 billion dollar transaction, to acquire oil license OML17 from the Shell Petroleum Development Company of Nigeria Ltd.
She noted that Hiers Energies also acquired Total E&P Nigeria Ltd., ENI, and solidified the joint venture partnership with the Nigerian National Petroleum Corporation (NNPC).
According to her, within its three years on board, the company has begun steady gas production and has rapidly become an important contributor to domestic gas supply in Nigeria.
Ugbojiaku stated that 100 per cent of the gas produced goes into the domestic market to meet local demand.
She said that the gas production also provided energy to thousands of households, supplementing power plants, and supporting various gas-reliant industries in the region.
The company’s representative mentioned that Heirs Energies boasts three incident free years, maintaining zero Loss Time Injury (LTI) operations in OML 17 with 1.5 million man-hours.
“Heirs Energies continues to live up to a philosophy of 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.
“Oil theft and losses which reached a peak of 97 per cent 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
“Heirs Energies takes particular pride in its fully Nigerian team who are catalysing and delivering innovative technical solutions every day,” she said.
Commenting, the Chairman, Heirs Energies, Mr Tony Elumelu, expressed his pride regarding the growth of the firm.
Elumelu commended Heirs Energies team led by the Managing Director/Chief Executive Officer, Mr Osa Igiehon, for their commitment to his vision of creating value for all stakeholders within the energy sector.
He noted that the team’s hard work, dedication and expertise has enabled the company to become a role model within the energy sector.
According to him, the Energy firm strives toward its purpose of improving lives and communities across the continent.
The chairman said that Heirs Energies recognises the importance of a sustainable future and plans to play a role in Nigeria’s transition to a more sustainable energy source.
According to him, the journey reflects a commitment to bring abundant and affordable power to schools, hospitals, industries, and shaping a sustainable future for Africa.
Elumelu said: “As someone from the Niger Delta, I had seen first-hand how Nigeria’s resources was being mishandled.
“The energy sector was an industry that had frankly not served Nigeria’s interest. However, 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.
“As I look back now, we have more than succeeded and Heirs Energies has become a role model institution within the energy sector.”
Heirs Energies Ltd., formerly HeirsHoldings Oil & Gas Ltd. is an indigenous-owned integrated energy company committed to meeting Africa’s unique energy needs while aligning with global sustainability goals.