- Heirs Energies’ oil production in Nigeria doubled output at OML 17 to 50,000 barrels per day within 100 days.
- The company targets 100,000 bpd and plans to increase gas output to 150 million scf daily.
Heirs Energies’ oil production in Nigeria has achieved a remarkable milestone at Oil Mining Lease (OML 17). The company doubled daily output from 27,000 barrels in 2021 to 50,000 barrels within its first 100 days of operations. Furthermore, it aims to reach 100,000 barrels per day in the coming years.
The operator has also achieved a 95 per cent crude evacuation success rate at OML 17. This progress highlights renewed stability in onshore operations previously hampered by theft and vandalism.
Chief Executive Officer, Osa Igiehon, explained that Heirs Energies plans to raise gas production from 100 million to 150 million standard cubic feet daily. This growth strategy reflects the company’s commitment to maximising reserves and meeting domestic and export demand.
He stressed that OML 17 holds about 1.5 billion barrels of reserves, which could last 75 years at current production levels. However, he argued that Nigeria must prioritise increasing production rather than focusing solely on reserves growth. According to him, value must be extracted before global energy transition deadlines diminish hydrocarbon worth.
Describing Heirs Energies as a “brownfield champion,” Igiehon emphasised the company’s record of reviving old and abandoned wells. He added that the company is also expanding its role in the domestic gas market. It supplies feedstock to five power plants and several industries along the Eastern corridor.
Heirs Energies has demonstrated its ability to deliver results despite industry challenges. With a wholly Nigerian workforce and 95 per cent indigenous contractors, the company continues to change perceptions about onshore operations. Nearly all of OML 17’s output now reaches the crude terminal, contrasting sharply with previous years of widespread losses.
By venturing into areas others avoided, Heirs Energies sets a template for indigenous participation in upstream oil and gas. Igiehon highlighted that the company is not just managing assets but actively growing production and expanding its portfolio both locally and internationally.