Heirs Energies Targets 110,000 BPD Output by 2030
Dr Osa Igiehon, Chief Executive Officer of Heirs Energies Ltd., says the company plans to raise crude oil production from 50,000 barrels per day (BPD) to 110,000 BPD by 2030.
Speaking at an interactive session with energy and business journalists on Friday in Lagos, Igiehon said the engagement aimed to strengthen ties with the media and promote transparency.
He addressed key issues, including Nigeria’s energy security, revitalising brownfield assets, the role of indigenous firms in oil and gas, and Heirs Energies’ sustainability and community development strategy.
Igiehon reaffirmed the company’s commitment to transparency, value creation, and Africapitalism — a philosophy emphasising private sector-led development in Africa.
“All our gas production is channelled to the domestic market, supporting national growth. “There’s no better time to revitalise Nigeria’s oil and gas sector and increase crude production than now. “Our contractors are 95 per cent indigenous, and we are a 100 per cent local content-driven company,” he said.
Addressing the importance of dialogue, Igiehon highlighted sector challenges including crude theft, infrastructure sabotage, energy insecurity, and policy uncertainty.
He emphasised Heirs Energies’ growth strategy as a model for Nigeria’s upstream sector. Also speaking, Mr Sam Nwanze, Executive Director and Chief Financial Officer of Heirs Energies, detailed the company’s transformation of Oil Mining Lease (OML) 17.
He explained how the once underperforming asset, plagued by oil theft, was turned into a high-performing field, with over 95–100 per cent terminal delivery and 100 dormant wells reactivated.
Nwanze highlighted the company’s gas strategy, including the commissioning of the Agbada Non-Associated Gas Plant and scaling production to over 100 million standard cubic feet daily.
This positions Heirs Energies as a major supplier to the Eastern domestic gas market. He underscored the company’s Africapitalism philosophy, strong local content, indigenous leadership, and impactful community programmes.
“Heirs Energies is 100 per cent Nigerian, operating at global standards. “We are a wholly indigenous company run by Nigerians, for Nigerians — delivering international-standard performance, governance, and safety,” he said.
The company has recorded over 1.5 million man-hours without Lost Time Incidents, trained more than 300 youths, and awarded over 280 university scholarships in host communities.
It has also conducted medical outreaches benefiting over 20,000 people, distributed anti-malaria kits, and rehabilitated 4,500 square metres of roads in host communities.
Nwanze noted the company’s partnership with the Tony Elumelu Foundation, which has empowered over 1,000 Rivers indigenes through entrepreneurship programmes.
Looking ahead, he said Heirs Energies is exploring expansion into other African energy markets, including Namibia, Senegal, and Angola, leveraging its Brownfield Excellence model and local expertise. #Heirs Energies Targets 110,000 BPD Output by 2030#
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