Heirs Energies, Africa’s leading indigenous-owned integrated energy company, celebrated its third anniversary, acknowledging remarkable accomplishments within a brief period. Since its launch in January 2021, Heirs Energies has established a track record of substantial production increases, introduced an innovative community engagement model, and built a world-class management team, contributing significantly to reshaping Nigeria’s sustainable energy future.
The company’s inception followed the successful completion of an eight-year, $1.2 billion transaction to acquire oil license OML17 from Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI. This strategic move solidified Heirs Energies’ joint venture partnership with the NNPC.
Tony Elumelu, Chairman of Heirs Energies, expressed pride in the company’s achievements and reflected on his vision for the organization. As a native of the Niger Delta, Elumelu emphasized the mishandling of Nigeria’s resource wealth and the need for the energy sector to better serve the country’s interests. His vision aimed to build Africa’s largest indigenous-owned integrated energy company, focusing on the continent’s unique energy needs, a vision that has more than succeeded.
Key milestones and achievements within Heirs Energies’ three years of operations include:
In the span of three years, Heirs Energies has achieved significant milestones, demonstrating its transformative impact on Nigeria’s energy landscape. Notable accomplishments include a substantial increase in oil production, rising from 27,000 to 40,000 barrels per day, a pivotal step in optimizing Nigeria’s oil output. Government initiatives have effectively curtailed theft and losses, reducing them from a peak of 97% to less than 15%, thereby addressing critical pipeline security concerns.
Furthermore, Heirs Energies has emerged as a crucial contributor to Nigeria’s domestic gas supply, initiating steady gas production. The entirety of the produced gas is channeled into the domestic market, meeting local demand, providing energy to households, supporting power plants, and sustaining gas-dependent industries in the region. The company’s commitment to safety is evident in its top quartile safety records, boasting three incident-free years and zero Loss Time Injury (LTI) operations in OML 17, accumulating an impressive 1.5 million man-hours without incidents.
Heirs Energies goes beyond industry standards with its community engagement approach, grounded in a philosophy of shared destiny with local communities. The company has empowered over 300 young individuals through skill acquisition programs, fostering growth and development. Additionally, it has undertaken impactful electrical infrastructure upgrades across host communities, positively influencing the lives of over 270,000 people.
Central to Heirs Energies’ success is its status as a world-class Nigerian organization. The company takes pride in its fully Nigerian team, exemplifying excellence in institutionalizing and executing key strategies. This dedicated team consistently delivers innovative technical solutions, reinforcing Heirs Energies’ position as a leader in the energy sector.
Tony Elumelu commended the team, expressing deep gratitude for their commitment to his vision of creating value for all stakeholders within the energy sector. Heirs Energies, recognizing the importance of a sustainable future, plans to play a role in Nigeria’s transition to a more sustainable energy source, contributing to shaping a sustainable future for Africa.