Heirs Energy has grown its daily oil production to 40,000 barrel per day from 27,000 three years after commencing operations.
Heirs Energies launched in January 2021, following the completion of an 8-year, $1.2 billion transaction to acquire oil license 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.
A statement from Chidimma Ugbojiaku, the Head of External Relations noted that this is a significant rise in oil production at a time when Nigeria needs to optimise output.
It said Heirs Energies’ oil production has surged from 27,000 to 40,000 barrels a day in spite theft and losses which reached a peak of 97 percent late 2021. Oil theft has is now less than 15%, with definitive actions taken by government to address the pipeline security and related concerns.
It said Heirs Energies has implemented a track record of significant production increases, pioneered a new model of community engagement and built at world class Nigerian management team, all contributing to a new beginning in ensuring Nigeria’s sustainable energy future.
The Chairman of Heirs Energies, Tony O. Elumelu “Heirs Energies has become a role model institution within the energy sector. Milestones, and achievements within three-years of operations include:
“Steady gas production for domestic use: Heirs Energies commenced gas production and has rapidly become an important contributor to domestic gas supply in Nigeria. 100% of gas produced goes into domestic market to meet local demand, providing energy to thousands of households, supplementing power plants, and supporting various gas-reliant industries in the region.
“Top quartile safety records: Heirs Energies boasts three incident free years, maintaining zero Loss Time Injury (LTI) operations in OML 17 with 1.5 million man-hours.
“Community engagement that works: Heirs Energies continues 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.”
He further said Heirs Energies is a world-class Nigerian organization run by a Nigerian team, who is catalysing and delivering innovative technical solutions every day. A true demonstration of Nigerian excellence in institutionalising and executing key strategies.
Chairman, Heirs Energies, Tony O. Elumelu, commended the team, sharing his deep gratitude for their commitment to his vision of creating value for all stakeholders within the energy sector.
He said, “I want to take this opportunity and mark this anniversary, by saluting and thanking the Heirs Energies team, led by Managing Director/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.’