Photo caption from left: Chief Financial Officer and Executive Director, Heirs Energies, Samuel Nwanze; CEO, Heirs Energies, Osa Igiehon; Chairman, Heirs Energies, Mr. Tony Elumelu, President and Chairman of the African Export-Import Bank (Afreximbank), Dr. George Elombi; Senior Executive Vice President, Afreximbank, Mr. Denys Denya, during the signing ceremony to mark the execution of a $750 million Financing Transaction between Heirs Energies and the Afreximbank in Abuja on Saturday.
*Achieves 9 million LTI-free manhours operation in 2025
By Emeka Ugwuanyi
The Chief Executive Officer, Heirs Energies Limited, Osa Igiehon, has revealed the focus areas of the energy company in 2026.
In his 2025 end of the year message, he reeled out the achievements of the company in 2025 and what it aspires to do in 2026. According to him, in 2026, the company would build on the foundations laid in 2025, protect asset integrity, deepen partnerships, and continue delivering reliable energy with the highest standards of safety, governance, and stakeholder responsibility.
He said: “As we close out 2025, I would like to take a moment to reflect on the year at Heirs Energies and to thank you for your continued partnership and engagement.
“2025 was a year that demanded discipline and clarity of execution across the energy industry. Market volatility, operational complexity, and heightened stakeholder expectations tested resilience and systems. At Heirs Energies, we remained firmly anchored on fundamentals. We prioritised safety, executed with discipline, and stayed focused on protecting long-term value.
“Safety remained our first priority throughout the year. We sustained an exceptional safety performance, recording 1,780 LTI-free days and over 9 million LTI-free manhours, reflecting a deeply embedded safety culture across our operations and the shared responsibility of our workforce.
Photo caption: Some of our board members visiting the heart of our operations, engaging directly with frontline teams and witnessing firsthand the impact of the strategies they help shape.
“Operationally, the year demonstrated the strength of our brownfield strategy and technical capability. Through targeted interventions and innovative execution, we restored production from long-inactive assets, achieved peak gas production of 135 MMscf per day, and doubled gas supply to key power customers, contributing meaningfully to domestic power generation and economic activity.
“Financial performance was resilient despite a challenging price environment. Heirs Energies recorded a 10 percent year-on-year increase in revenue, met all obligations to lenders, sustained full cost recovery, and maintained a unit operating cost significantly below industry benchmarks. These outcomes reflect our continued focus on efficiency, capital discipline, and sustainable cash generation.
“We are also closing the year on two defining milestones that position Heirs Energies firmly for the future. First, the execution of a US$750 million financing transaction with Afreximbank, which strengthens our long-term growth. In addition, Heirs Energies completed the acquisition of the 20.07 percent equity stake in Seplat Energy Plc previously held by Maurel & Prom S.A., a strategic portfolio investment that deepens indigenous participation in critical energy assets and reinforces our confidence in Africa’s ability to own, develop, and responsibly manage its resources.
“Beyond operational and financial outcomes, stakeholder alignment remained central to our approach. Through deliberate engagement and collaboration, we recorded zero production deferment arising from community issues, reinforcing our belief that sustainable operations are built on trust, partnership, and shared value.
“As we look ahead to 2026, our priorities are clear. We will build on the foundations laid in 2025, protect asset integrity, deepen partnerships, and continue delivering reliable energy with the highest standards of safety, governance, and stakeholder responsibility.
“We appreciate the trust you place in Heirs Energies and look forward to continuing our collaboration in the year ahead.”
