- Within just 100 days of taking over operations, Heirs Energies doubled its oil production from 27,000 to 52,000 barrels per day.
- The company increased its terminal delivery from 3 per cent in December 2021 to 85 per cent in 2024.
Heirs Energies has revealed that it manages approximately 5 per cent of Nigeria’s oil and domestic gas production. The Chief Executive Officer of Heirs Energies, Osa Igiehon, made this known during a recent interview for a film the firm featured in.
The recent Financial Times film “Nigeria’s Struggle to Break the Oil Curse” explores the challenges and opportunities within the nation’s energy landscape. It also highlights Heirs Energies’ and its CEO’s role in propelling transformation in the sector.
During his interview, Igiehon detailed the firm’s substantial contributions to Nigeria’s energy sector. “The company now manages approximately 5 per cent of the country’s oil production and a similar share of its domestic gas production.
“This achievement is particularly noteworthy given the recent trend of international oil companies exiting onshore operations in Nigeria, creating opportunities for capable indigenous firms to fill the void”, the CEO stated.
Since acquiring the OML 17 block in July 2021, the company has demonstrated remarkable operational excellence. Within just 100 days of taking over operations, the company doubled its oil production from 27,000 to 52,000 barrels per day. This rapid improvement serves as compelling evidence of the capacity and resilience of indigenous companies in the sector.