Heirs Energies’ oil production hits 40,000bpd in three years
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Heirs Energies, Africa’s indigenous-owned integrated energy company, has boosted its daily oil production to 40,000 barrels per day from 27,000 bpd in 2021.
A statement issued by the Head of External Relations, Chidimma Ugbojiaku, to mark the third anniversary of the company highlighted the company’s achievements in implementing a significant increase in production, pioneering a new model of community engagement, and building a world-class Nigerian management team.
Heirs Energies was launched in January 2021, after its founder, Tony Elumelu, completed an eight-year $1.2bn 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.
The Chairman of Heirs Energies, Elumelu, expressed satisfaction while reflecting on his vision for Heirs Energies.
“As someone from the Niger Delta, I had seen firsthand 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,” Elumelu was quoted as having said.
The firm listed some of the feats of the last three years, saying, “Heirs Energies’ oil production has surged from 27,000 to 40,000 barrels a day. Theft and losses which reached a peak of 97 percent in late 2021, have now been reduced to less than 15 percent.
