Chairman of Heirs Energies, Mr Tony Elumelu has restated the company’s commitment to focusing on Africa’s unique energy needs.

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Elumelu, who expressed his pride while reflecting on his vision for Heirs Energies, made the remarks as the energy company celebrates its third anniversary.

He said “As someone from the Niger Delta, I had seen first-hand, how Nigeria’s resource wealth can be mishandled. The energy sector was an industry that had frankly not served Nigeria’s interest. I knew 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.”

Heirs Energies was launched in January 2021, following the completion of an eight-year $1.2 billion transaction to acquire oil licence OML17, from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI, and solidifying the joint venture partnership with the NNPC.

Within the three years of its operations, Heirs Energy has implemented a track record of significant production increases, pioneered a new model of community engagement and built a world-class Nigerian management team, all contributing to a new beginning in ensuring Nigeria’s sustainable energy future.

A statement from Heirs Energies suggests that the company has become a role model institution within the energy sector. Milestones and achievements within its three-years of operations include significant rise in oil production at a time when Nigeria needs to optimise output. Heirs Energies’ oil production has surged from 27,000 to 40,000 barrels a day. Theft and losses, which reached a peak of 97 per cent in late 2021, has now been reduced to less than 15 per cent, with definitive actions taken by the government to address the pipeline security and related concerns.

Heirs Energies commenced gas production and has rapidly become an important contributor to domestic gas supply in Nigeria. One hundred per cent of gas produced goes into the domestic market to meet local demand, providing energy to thousands of households, supplementing power plants, and supporting various gas-reliant industries in the region.

The company also boasts three incident free years, maintaining zero Loss Time Injury (LTI) operations in OML 17 with 1.5 million man-hours. It also embarked on community engagement that works. It has continued to live up to a philosophy of a 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.

“I want to take this opportunity and mark this anniversary, by saluting and thanking the Heirs Energies team, led by MD/CEO, Osa Igiehon. Your hard work, dedication and expertise has enabled us to become a role model within the energy sector, as we strive towards our purpose of improving lives and communities across our continent,” said Elumelu.