Oritsegbubemi Omatseyin
Lagos — Heirs Energies, operator of the Oil Mining Lease, OML17, has transformed OML 17 from an underperforming asset at takeover, to a high-performing asset with over 95-100% terminal delivery. The Company aims to raise its crude oil production to 100,000 barrels per day.
The Chief Executive Officer of Heirs Energies, Osa Igiehon, revealed this while speaking to journalists at a media briefing in Lagos.
Igiehon said from production of 27,000bpd at the time of takeover of OML17 in 2021, Heirs Energies quickly doubled the output to 50,000bpd within 100 days.
He added that the company ramped production by 100 per cent in 100 days by revamping about 30 idle wells. “I just want to add that the simple thing was that when we came in, there were not up to 40 wells producing. In 100 days, we reactivated another 30 wells. So, we almost doubled the number of wells producing in 100 days. It was a very focused programme. And it was enabled by our highly experienced staff and the good relationship with the community,” he said.
One of the company’s standout achievements, according to Igiehon, is the successful restart of a well in the Niger Delta that had been dormant for 37 years. He explained that while the well had no technical defects, operations were hindered for decades due to community, social, and security challenges.
Speaking on the company’s ambition is to be the leading energy business in Nigeria, Igiehon stated: “We are poised and positioned for growth. We work in an integrated energy space which includes renewables. Our ambition is to grow production to 100,000 barrels a day. That’s the journey. It is not going to be an easy journey but we are determined.”
He added that the company is the largest supplier of domestic gas in the South East with about 85 to 90 percent of the company’s gas output dedicated to the domestic market.
“We supply gas to four major power plants, Trans Afam, FIPL, G-PAL, and Geometric. We also serve industrial clusters in the Port Harcourt area. None of our gas is exported. All of it goes into Nigeria’s economy, powering homes, industries, and businesses. We are very proud of that,” he stated.
He addressed real challenges like crude theft, infrastructure sabotage, energy security and policy uncertainty while articulating a bold, resilient growth path for Heirs Energies and Nigeria’s upstream sector.
Executive Director and Chief Financial Officer Sam Nwanze who gave a detailed presentation on the transformation of OML 17 said OML 17 has swung from an underperforming asset at takeover, plagued by oil theft to a high-performing asset with over 95–100% terminal delivery,.
He Highlighted the company’s strategic focus on gas, including the commissioning of the Agbada Non-Associated Gas Plant, and scaling gas production to over 100 MMscfd, positioning Heirs Energies as a key supplier to the Eastern domestic gas market.
He also Reaffirmed Heirs Energies’ core philosophy of Africapitalism, building businesses that drive social and economic development. This was demonstrated through local content, indigenous leadership, and community-focused impact.
Nwanze added that Heirs Energies is a wholly indigenous company run by Nigerians, for Nigerians, delivering international-standard performance, governance, and safety, with over 1.5 million LTI-free man-hours.
Beyond energy operations, Heirs Energies has made notable strides in social investment. Initiatives include awarding scholarships to over 280 students, vocational training for 300 youths, and medical outreach programs that have benefited more than 20,000 people. In addition, Heirs Energies has rehabilitated key road infrastructure and partnered with the Tony Elumelu Foundation to support more than 1,000 small businesses in Rivers State.
Looking to the future, Heirs Energies is exploring regional expansion into markets such as Namibia, Senegal, and Angola, leveraging what it calls its “Brownfield Excellence” model, a strategy focused on maximizing underutilized assets with local expertise.
