By Ndubuisi Micheal Obineme
…reveals plan to acquire additional assets, and expand operations across Africa.
Heirs Energies Limited is aggressively increasing its production and operational excellence in the oil and gas industry by adopting strategic approaches and innovations to nurture the company’s success stories in Nigeria.
The story of Heirs Energies started in 2021 when it acquired OML 17, a prime acreage located onshore in the Niger Delta. The company was seen as a new entrant in Nigeria’s energy, oil and gas industry.
Today, Heirs Energies has proved popular, transforming from a start-up company into Nigeria’s leading indigenous energy company.
Speaking in an interview with The Energy Republic, Engr. Osayande Igiehon, Heirs Energies CEO said the company has developed a strategic approach and framework around brownfield methodology, advanced technologies, data-driven insights, operational efficiency & cost optimization, industry collaboration, and community development programs, with a strong commitment to disciplined execution as well as stay resilience in maximizing production from its operations.
Heirs Energies, operator of OML 17, currently accounts for 5% of Nigeria’s oil production and 5% of gas production. The company has demonstrated remarkable operational excellence in growing its oil production from 27,000 to 52,000 barrels per day as well as increased its terminal delivery from 3% in December 2021 to 85% presently.
“Our remarkable operational gains at OML 17 – most notably, the increase in oil production from 27,000 to over 52,000 barrels per day and the boost in terminal delivery from 3% to over 85% – are the direct result of Heirs Energies’ strong commitment to strategic innovation, disciplined execution, resilience and purposeful collaboration with all stakeholders,” Igiehon explained.
According to Heirs Energies CEO, the company’s strategic approach was also driven by the adoption of Brownfield Excellence (BFE) methodology as part of its strategic approach to maximize production from brownfields.
He stated that the company’s BFE centers are optimizing existing fields using rigorous technical frameworks, advanced technologies, data analytics, continuous community engagement, and development programs.
In the case of OML 17, he said Heirs Energies invested in cutting-edge technologies starting from well-interventions to digital field monitoring in maximizing its production output and minimizing cost.
In addition, he narrated that the company’s close collaboration with community leaders, local businesses, and government officials has been pivotal in addressing shared challenges like crude oil theft and environmental risks.
“As we grow our production, we remain deeply committed to reducing our environmental footprint. Cutting-edge flaring reduction programs, the Nigerian Gas Flare Commercialisation Project, biodiversity conservation efforts, and responsible waste management are integral components of our operational framework.
“We have significantly lowered operating costs without compromising on safety or environmental standards. This focus on efficiency is integral to delivering consistent, profitable growth despite market volatility.
“Heirs Energies will continue to embed these practices in every facet of our business, from continued asset revitalization to new acquisitions and expansions,” he stated.
As part of its commitments to expand operations, Igiehon revealed that Heirs Energies is actively exploring opportunities to acquire additional assets and expand operations across Africa.
“Our company’s goal is to build a diversified portfolio of high-quality assets that align with its vision of sustainable energy development that will meet the unique energy needs of Africans,” he added.