Photo caption: CEO of Heirs Energies, Mr. Osa Igiehon
*Achieves over 1.5 million LTI-free man-hours
By Emeka Ugwuanyi
The CEO of Heirs Energies, Mr. Osa Igiehon, has described crude theft as an existential threat to Nigeria’s oil and gas industry, noting that it was more than mere industry operational challenge.
However, he lauded the current administration under President Bola Tinubu for tackling head-on the hydra-headed crude theft, which almost crippled the industry. Praising the efforts of the current government in the fight against crude theft, Osa Igiehon stated that “there is no better time for Nigeria’s oil and gas industry than now.”
According to him, Heirs Energies is currently changing narratives of onshore operation with its OML 17 asset in the Niger Delta. “We are no more talking about oil theft but we have shown production growth more than other independent companies in recent times.”
Osa Igiehon spoke during an informal media parley on hosted by the company on Thursday at the Heirs Towers Training Room, Victoria Island, Lagos.
The event was designed to deepen relationships with leading energy and business journalists and foster transparent dialogue on the company’s journey, performance, and outlook.
The parley featured an interactive session anchored by Executive Director and CFO, Sam Nwanze, who took attendees through a detailed presentation titled “The Heirs Energies Story: From Vision to Impact.” The presentation covered the company’s founding vision, the OML 17 acquisition journey, production and gas milestones, community investments, and the company’s aspirations across Nigeria and Africa.
The CEO of Heirs Energies, Mr. Osa Igiehon, gave the closing remarks and responded to critical questions raised by journalists. He addressed topics such as Nigeria’s energy security challenges, brownfield turnaround strategies, role of indigenous players in driving growth and the company’s approach to sustainability and host community development. Osa reaffirmed the company’s commitment to transparency, value creation, and Africapitalist principles.
There was a strong media presence comprising over 50 top-tier media houses in attendance, reflecting the industry’s deep interest in Heirs Energies’ story and leadership.
On operational turnaround spotlight, the ED/ CFO Sam Nwanze’s presentation detailed the transformation of OML 17 from an underperforming asset at takeover, plagued by oil theft to a high-performing asset with over 95–100% terminal delivery, reactivating over 100 dormant wells and ramping production within 100 days.
Spotlighting gas as a growth engine, Nwanze highlighted the company’s strategic focus on gas, including the commissioning of the Agbada Non-Associated Gas (NAG) Plant, and scaling gas production to over 100 million standard cubic feet per day (MMscfd), positioning Heirs Energies as a key supplier to the Eastern domestic gas market.
Africapitalism in Action: He reaffirmed Heirs Energies’ core philosophy of Africapitalism – building businesses that drive social and economic development. This was demonstrated through local content, indigenous leadership, and community-focused impact.
Heirs Energies is 100% Nigerian with global standards and has reinforced identity as a wholly indigenous company run by Nigerians, for Nigerians delivering international-standard performance, governance, and safety, with over 1.5 million LTI-free man-hours.
Social Investment Footprint: Heirs Energies has celebrated impactful CSR initiatives:
- Over 300 youth trained through vocational and empowerment programs.
- 280+ university scholarships awarded to students from host communities.
- Medical outreaches reaching 20,000+ individuals, alongside donations of anti-malaria drugs and health kits.
- 4,500 sqm of road rehabilitations improving access across key host locations.
- Partnership with the Tony Elumelu Foundation, empowering 1,000+ Rivers State indigenes through entrepreneurship.
On Pan-African growth vision, Heirs Energies has previewed expansion plans into Namibia, Senegal, Angola, and other African energy markets, leveraging Heirs’ Brownfield Excellence (BFE) model and indigenous operational expertise.
Heirs Energies CEO Mr Osa Igiehon in his closing remarks addressed real challenges in the industry including crude theft, infrastructure sabotage, energy security, policy uncertainty – while articulating a bold, resilient growth path for Heirs Energies and Nigeria’s upstream sector.
