Michael Walter

Port Harcourt, Nigeria, Monday, 21 July 2025 – As part of its bold commitment to invest in the future of its host communities, the NNPC/Heirs Energies Joint Venture, through the OML 17 Host Communities Development Trust (HCDT), has officially launched the OML 17 University Scholarship Programme (USP).

The scholarship will provide financial and educational support to 300 qualified first-year students from OML 17 host communities who are currently enrolled in any course of study at government-owned universities across Nigeria.

This initiative is part of the Trust’s broader mission to promote sustainable development through education and human capital investment, in line with the Petroleum Industry Act (PIA).

Applications for the scholarship will open on 21st July 2025, followed by an online testing and screening process. Final selections and the formal announcement of the 300 beneficiaries will take place in September 2025, aligning with the start of the new academic year.

Speaking on the launch, His Royal Majesty, Dr. Samuel Amaechi, Chairman of the Board of Trustees, OML 17 HCDT, stated: “The launch of the OML 17 USP marks a new chapter in our efforts to uplift the youth in our host communities. We are proud to roll out a transparent, merit-based scholarship that will provide real access to education for those who need it most. This is not just a scholarship; it is a pathway to a better future.”

Also commenting, Osa Igiehon, CEO, Heirs Energies Limited, said: “Education is the foundation of progress, and by empowering young people with access to learning, we are building stronger, more resilient communities. At Heirs Energies, we believe that shared prosperity begins with shared opportunity.”

Eligible candidates from OML 17 host communities are encouraged to apply from 21st July 2025 via the official scholarship portal: heirsenergies.com/scholarships. Detailed eligibility requirements and application procedures will be available on the website, on community notice boards, flyers, and through grassroots channels across the host communities.

The OML 17 Host Communities Development Trust (HCDT), established by the NNPC/Heirs Energies Joint Venture under the Petroleum Industry Act (PIA) 2021, drives sustainable development and economic empowerment across 73 communities. It is the largest HCDT in Nigeria’s oil and gas sector and is committed to transparency, inclusion, and long-term impact.

Port Harcourt, Nigeria – 24th June 2025 – Heirs Energies Limited and Renaissance Africa Energy Company have expressed mutual commitment to strategic collaboration following a high-level courtesy visit by Osa Igiehon, CEO of Heirs Energies, to Renaissance’s leadership team, led by Tony Attah.

The landmark meeting, which marked the first formal engagement between the two companies post-Renaissance’s successful transition, focused on mutual priorities and shared commitment to advancing Nigeria’s oil and gas sector through indigenous leadership and innovation.

Speaking during the visit, Osa Igiehon emphasized the significance of indigenous companies leading Nigeria’s energy transformation. “We are happy to connect with the leadership of Renaissance and congratulate them on their successful deal and transition,” said Igiehon. “As indigenous firms, we all have a duty to the continued development of the industry. The thinking and how we approach things will be different now, as we’re both indigenous companies committed to Nigerian excellence and driving unprecedented production growth.”

The CEO highlighted the natural synergy between the two organiations and the transformative potential of their collaboration. “Heirs Energies and Renaissance are closely linked, and we’re looking forward to continued collaboration that will not only benefit our companies, but fundamentally reshape Nigeria’s energy landscape. Together, we have the capability and commitment to accelerate production across our assets and drive the kind of innovation that will position Nigeria as a global energy leader.”

Tony Attah, Managing Director of Renaissance Africa Energy Company, expressed enthusiasm for the partnership, stating: “We are equally happy to connect and engage with Heirs Energies. This collaboration represents a significant step forward as we pursue our shared vision for the industry.”

He emphasized Renaissance’s commitment to driving transformational change across the energy value chain: “Renaissance is on a journey to drive increased production and development across the entire value chain, and partnering with like-minded indigenous companies like Heirs Energies is fundamental to achieving these objectives.”

The collaboration between these two leading indigenous energy companies signals a new era of homegrown expertise and innovation in Nigeria’s oil and gas sector. Both companies bring complementary strengths and shared values that position them to accelerate production growth through innovative approaches, develop local capacity and expertise across the energy value chain, drive sustainable industry practices that benefit Nigerian communities, leverage indigenous knowledge and understanding of local operating environments, and create synergies that enhance operational efficiency and market competitiveness.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals.   Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contribute to a more prosperous Africa.

Port Harcourt, Nigeria – May 26, 2025 – The NNPC/Heirs Energies JV OML 17 Host Communities Development Trust (HCDT) today launches a comprehensive Free Medical Outreach Initiative aimed at improving access to quality healthcare for residents across the OML 17 acreage in Port Harcourt, Rivers State.

The initiative, spanning 15 centres in Umuechem, Igwuruta, Mgbodo-Alu, Eneka, Rumukurishi, Oyigbo, Iriebe, Umuebulu, Umuokwa, Odagwa, Egwi, Elelewon, Ozuoba, and Rumuigbo, will deliver free medical consultations, health education, wellness counselling, dental care, eye care, and surgical services to an estimated 4,500 beneficiaries. The outreach is designed to address both urgent and preventive healthcare needs in the region.

In a statement shared ahead of the flag-off ceremony scheduled for later today in Umuechem, His Royal Majesty, King Dr. Samuel Amaechi, Chairman of the Board of Trustees of the NNPC/Heirs Energies JV OML 17 HCDT, emphasized the importance of health as a pillar of sustainable development:

“This medical outreach is a clear demonstration of our commitment to the well-being of our people. We recognize that no community can thrive without access to basic healthcare. Through this initiative, the HCDT is not only meeting immediate health needs but also reaffirming its role as a responsive and compassionate development institution. We are grateful to our partners, the NNPC and Heirs Energies, for their support in making this vision a reality.”

The OML 17 Medical Outreach forms part of the Trust’s broader mission to implement sustainable, people-focused development programmes that align with the Petroleum Industry Act (PIA) and contribute meaningfully to the United Nations Sustainable Development Goals (SDGs).

Medical teams comprising doctors, nurses, pharmacists, optometrists, surgeons, and dentists have been deployed across the participating communities. They are supported by local volunteers and community leaders to ensure smooth execution and broad-based impact.

About Us

The NNPC/Heirs Energies JV OML 17 Host Communities Development Trust (HCDT) is a statutory development platform established under the Petroleum Industry Act (PIA) 2021 to drive sustainable development and economic empowerment for host communities within the OML 17 oil and gas acreage.

Incorporated by the NNPC/Heirs Energies Joint Venture, the Trust represents a transformative model of community engagement – anchored in transparency, inclusion, and long-term impact. Representing 73 communities and reputed to be the largest HCDT in Nigeria’s oil and gas industry, the Trust remains committed to fostering inclusive growth and delivering real, lasting value to its people, exemplifying an unwavering focus on impact-driven development that improves lives, today and for generations to come.

LAGOS, NIGERIA – 2 April 2025 – Heirs Energies CEO, Osayande Igiehon, delivered powerful insights on African energy leadership at the inaugural Congo Energy & Investment Forum held in Brazzaville from March 24-26, 2025.

Osa joined distinguished panels of African business leaders at the Kintele Congress Center on March 26th, speaking on two key themes: “Energy & Investment Outlook” and “Field Development Drive: Towards 500,000 Barrels Per Day.” During the sessions, Osa shared practical strategies on how the Republic of Congo could accelerate its journey toward achieving its ambitious 500,000 barrels per day production target.

“Within three months of acquiring OML 17 from the previous operator in 2021, we doubled production from 25,000 barrels per day to over 50,000 barrels,” Osa told the audience. “Today, we consistently sustain this growth, aiming to surpass 100,000 barrels per day – something previously unachieved on this block. The same approaches can help Congo maximize production from its mature fields.”

During his presentations, Osa highlighted the company’s successful doubling of gas production to 80-100 million scf per day, directly supporting Nigeria’s domestic power generation and industrial sectors. He emphasized Heirs Energies’ Brownfield Excellence approach as a blueprint for rapid production growth that could be replicated across Congo’s mature energy assets to help reach the nation’s production goals.

The forum, organized by Energy Capital & Power in partnership with the Republic of Congo’s Ministry of Hydrocarbons, brought together government officials, industry leaders, and investors to discuss strategies for accelerating energy development across the continent.

Osa also underscored the importance of Africapitalism – the philosophy pioneered by Heirs Holdings Chairman Tony Elumelu – as a guiding principle for energy development that creates shared prosperity.

“Driven by our Chairman Tony Elumelu’s philosophy of Africapitalism, we lead with private sector solutions that create shared prosperity and improve lives across Africa. This is the spirit of the Heirs Holdings Group,” Osa stated. “This approach is exemplified by the Tony Elumelu Foundation, which recently committed $15 million to fund 3,000 entrepreneurs across all 52 African countries. Since launching with a $100 million commitment in 2015, the Foundation has now empowered over 24,000 entrepreneurs – more than double its initial target – catalyzing job creation and economic development continent-wide.”

“We believe in partnerships built on shared destiny, where success benefits all stakeholders,” Osa noted. “Africa-to-Africa collaboration must be enhanced to address our common challenges of energy poverty and economic development.”

Osa also highlighted Heirs Energies’ operational excellence and turnaround expertise: “We are specialists in revitalizing mature assets across multiple sectors – from hospitality, exemplified by the Transcorp Hilton Abuja, to significant contributions in power generation and distribution, driving efficiency and sustainable value creation.”

The forum provided a platform for Heirs Energies to advance discussions on potential partnerships in the Congo Basin as part of its Pan-African expansion strategy.

President Bola Ahmed Tinubu has approved a sweeping reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari.

President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023.

The new 11-man board has Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive chairman.

Adedapo Segun, who replaced Umaru Isa Ajiya as the chief financial officer last November, has been appointed to the new board by President Tinubu.

Six board members, non-executive directors, represent the country’s geopolitical zones. They are Bello Rabiu, North West, Yusuf Usman, North East, and Babs Omotowa, a former managing director of the Nigerian Liquified Natural Gas( NLNG), who represents North Central.

President Tinubu appointed Austin Avuru as a non-executive director from the South-South, David Ige as a Non-executive director from the South West, and Henry Obih as a non-executive director from the South East.

Mrs Lydia Shehu Jafiya, permanent secretary of the Federal Ministry of Finance, will represent the ministry on the new board, while Aminu Said Ahmed will represent the Ministry of Petroleum Resources.

All the appointments are effective today, April 2.

President Tinubu, invoking the powers granted under Section 59, subsection 2 of the Petroleum Industry Act, 2021, emphasised that the board’s restructuring is crucial for enhancing operational efficiency, restoring investor confidence, boosting local content, driving economic growth, and advancing gas commercialisation and diversification.

President Tinubu also handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives.

Since 2023, the Tinubu administration has implemented oil sector reforms to attract investment. Last year, NNPC reported $17 billion in new investments within the sector. The administration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030.

The Tinubu administration targets raising oil production to two million barrels daily by 2027 and three million daily by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030.

Furthermore, President Tinubu expects the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030.

The new board chairman, Ahmadu Musa Kida, is from Borno State. He is an alumnus of Ahmadu Bello University, Zaria, where he received a degree in civil engineering in 1984. He also obtained a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris

He started his career in the oil industry at Elf Petroleum Nigeria and later joined Total Exploration and Production as a trainee engineer in 1985.

Musa became Total Nigeria’s Deputy Managing Director of Deep Water Services in 2015. Last year, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group.

Apart from his oil industry career, Ahmadu Musa Kida is a former basketballer and the president of the Nigerian Basketball Federation(NBBF) board.

Ojulari, the new NNPC Limited Group CEO, hails from Kwara State. Until his new appointment, He was Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company. His Renaissance recently led a consortium of indigenous energy firms in the landmark acquisition of the entire equity holding in the Shell Petroleum Development Company of Nigeria (SPDC), worth $2.4 billion.

Like Kida, Ojulari is also an alumnus of Ahmadu Bello University, Zaria. He graduated with a degree in Mechanical Engineering. He worked for Elf Aquitaine as the first Nigerian process engineer to begin a stellar career in the oil sector. From Elf, he joined Shell Petroleum Development Company of Nigeria Ltd in 1991 as an associate production technologist.

Apart from working in Nigeria, he worked in Europe and the Middle East in different capacities as a petroleum process and production engineer, strategic planner, field developer, and asset manager. In 2015, he became the managing director of Shell Nigeria Exploration and Production Company (SNEPCO).

During his career, he was chairman and member of the board of trustees of the Society of Petroleum Engineers (SPE Nigerian Council) and a fellow of the Nigerian Society of Engineers.

President Tinubu thanked the old board members for their dedicated service to NNPC Limited, particularly their efforts in rehabilitating the old Port Harcourt and Warri refineries, which enabled them to resume petroleum product production after prolonged shutdowns. He wished them well in their future endeavours.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)

April 2, 2025

Source: NNPC

Our CEO, Osayande Igiehon on TVC at sharing valuable insights on business development with Heirs Energies and the Prospects for Crude Oil Production in Nigeria.

Abuja, Nigeria | February 24, 2025 – Heirs Energies, Africa’s fastest growing indigenous integrated energy company, hosted its inaugural Petroleum Industry Leadership Dialogue at the Transcorp Hilton Abuja, bringing together public and private sector leaders to accelerate Nigeria’s production growth.

Heirs Holdings’ subsidiary, Heirs Energies, convened the forum, moderated by CEO of Heirs Energies, Osayande Igiehon, and which
featured distinguished speakers including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Chief
Commission Executive, NUPRC, Engr. Gbenga Komolafe; Chairman, OPEC Board of Governors and CEO, First E&P, Adewale Adeyemo-Bero; Executive Vice-President Upstream, NNPC Limited, Udobong Ntia and CEO of Seplat Energy Plc, Roger Brown.

With a new administration and ambitious targets for production critical for Nigeria’s economic growth, the Dialogue provided a timely venue for private and public sectors to continue the successful interaction, that has already seen Nigeria crude production grow by 25%, since May 2023. Speakers highlighted how a series of Presidential Executive Orders had radically reshaped the operating environment and catalysed industry growth. Indigenous oil and gas companies were now responsible for more than 60% of Nigeria’s crude output and the successful indigenisation programme was delivering a bold new chapter in Nigeria’s natural resources history.

Tony Elumelu, Founder and Chairman of Heirs Holdings and Chairman of Heirs Energies, in his opening remarks, paid tribute to the catalytic role that current government had played in reinvigorating the sector. Mr Elumelu also set out Heirs Holdings’ vision of transforming Africa’s energy landscape, through indigenous leadership and sustainable development.

Heirs Energies, in just four years, had rapidly grown its production from 21,000 to over 50,000 barrels per day of hydrocarbon.

Mr Elumelu also welcomed both public and private sector guests, emphasising the strong spirit of collaboration that underscored the
successful indigenisation:

“Production growth, ambitious and sustained, is our shared national mission. I am honoured that Heirs Energies is bringing together
distinguished peers from the industry and our partners in government.

As an investor not just in resources, but in Nigeria’s power production and distribution sectors, all of us, need to come together to ensure
Nigerians get the benefits of our resources. As we build Africa’s largest integrated energy business, innovation and collaboration are central to our execution”.

The dialogue affirmed Nigeria’s commitment to increasing production, while maintaining environmental responsibility and leveraging gas as a transition fuel.

Speaking at the forum, Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, applauded Heirs Energies for hosting this inaugural event, “Let me express our gratitude to Heirs Energies for providing this platform for meaningful industry engagement.” The Minister announced Nigeria’s oil production had reached 1.8 million barrels per day in January 2025 and set an ambitious target of 2.5 million barrels per day for 2025. He also reaffirmed the administration’s “drill or drop” policy to accelerate production growth.

The Petroleum Industry Leadership Dialogue, which will become an annual event, brought together key stakeholders in the oil and gas industry, including MD of The Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel
Holdings, Adegbite Falade and industry veteran and founder of Platform Petroleum & Managing Director A.A Holdings, Austin Avuru, among others.

NUPRC Chief Executive, Engr. Gbenga Komolafe, empahsised the dialogues significance in advancing the sectors objectives, “I thank Heirs Energies for this beautiful initiative of putting together the Petroleum Industry Leadership Dialogue as a commitment to achieving our national objective in the upstream sector.” He highlighted the surge in active drilling rigs to 38, with projections to reach 50 by March 2025.

OPEC Board of Governors Chairman for Nigeria and CEO, First E&P, Ademola Adeyemi-Bero, commended the forum’s timing, noting “It’s
apt. It’s early in the year and it’s about how we grow production. That’s why you see all of us participating.” He shared how indigenous operators have successfully increased production, citing his company’s achievement of 57,000 barrels per day from previously untapped fields.

Heirs Energies CEO, Osa Igiehon, reinforced this perspective, showcasing Heirs Energies’ impact in Nigeria’s onshore sector. “Our success at Heirs Energies demonstrates what’s possible in Nigeria’s onshore sector, through our Brownfield Excellence Strategy, robust
security measures, and genuine community partnership,” he said. “By tripling our producing wells to over 100, we’ve shown how indigenous operators can efficiently unlock value while ensuring sustainable development of host communities.”

The Petroleum Industry Leadership Dialogue also exemplified Heirs Energies’ commitment to Mr Elumelu’s Africapitalism, the private sector’s transformative role in driving Africa’s economic and social development through strategic, long-term investments hinged on partnership and collaboration.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. With a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.

Heirs Energies is a key implementor of Heirs Holdings integrated energy strategy, Africa’s largest integrated energy business, whose objective is to ensure Africans benefit directly from their continent’s resources.

HEIRS ENERGIES LEADERSHIP FORUM 2025
L-R: CCE, NUPRC, Engr. Gbenga Komolafe; CEO, Heirs Energies, Osa Igiehon; Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Founder/Chairman, Heirs Holdings and Chairman Heirs Energies, Tony O. Elumelu, CFR; OPEC Board of Governors Chairman for Nigeria & CEO, First E&P, Ademola Adeyemi-Bero; CEO, Seplat Energy, Roger Brown and Executive Vice President, Upstream, NNPC Limited, Udobong Ntia, at the Heirs Energies’ Nigeria Petroleum Industry Discourse which held at the Transcorp Hilton Abuja.