Heirs Energies Celebrates Three Years of Success

Date:

Achieving Milestones in Production, Community Engagement, and Safety”

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Heirs Energies, Africa’s leading indigenous integrated energy company, marked its third anniversary with commendable achievements in production growth, community engagement, and maintaining a strong safety record.

In just three years, Heirs Energies has made significant strides, setting a track record of increased production, introducing a transformative model of community engagement, and assembling a world-class Nigerian management team. These accomplishments contribute to a renewed focus on ensuring Nigeria’s sustainable energy future.

Established in January 2021, Heirs Energies initiated its journey by completing 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. This strategic move solidified a joint venture partnership with the NNPC.

Tony O. Elumelu, CFR, Chairman of Heirs Energies, expressed his pride and reflected on the vision for the company. He emphasized the need for Nigeria to control its resource wealth better, stating, “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 has become a role model within the energy sector, achieving various milestones in its three years of operations:

  1. Significant Rise in Oil Production: Amid the need for increased output, Heirs Energies has elevated oil production from 27,000 to 40,000 barrels a day. Measures taken by the government have substantially reduced theft and losses from 97% to less than 15%.

  2. Steady Gas Production for Domestic Use: The company has initiated gas production, becoming a crucial contributor to Nigeria’s domestic gas supply. All gas produced is directed towards meeting local demand, providing energy to households, supporting power plants, and aiding gas-reliant industries.

  3. 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.

  4. Effective Community Engagement: The company emphasizes a shared destiny with local communities, empowering over 300 young people through skill acquisition programs. Electrical infrastructure upgrades across host communities have positively impacted a population of over 270,000 people.

  5. World-Class Nigerian Organization: Heirs Energies takes pride in its fully Nigerian team, showcasing excellence in delivering innovative technical solutions and executing key strategies.

Chairman Tony O. Elumelu commended the team’s commitment to his vision and expressed gratitude to the Heirs Energies team, led by MD/CEO Osa Igiehon. Elumelu highlighted the team’s hard work and dedication, enabling the company to be a role model within the energy sector.

Heirs Energies envisions a sustainable future and plans to contribute to Nigeria’s transition to more sustainable energy sources. The company is committed to bringing abundant and affordable power to schools, hospitals, and industries, shaping a sustainable future for Africa.

Bisi Adele
Bisi Adelehttps://naija247news.com/
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