Heirs Energies, part of Tony Elumelu’s Heirs Holdings, has successfully transformed the OML 17 oil block in Nigeria’s Niger Delta from a low-performing asset into a highly productive one.

At a recent media briefing, CEO Osa Igiehon said fewer than 30 wells were producing when the company assumed control of OML 17. Within 100 days, the firm reactivated over 100 dormant wells, including one that had been idle for 37 years due to community and security issues. “The well had no technical problems, but external challenges had kept it offline. We resolved them and brought it back to life,” Igiehon noted.

The company has set an ambitious target of reaching 100,000 barrels per day, acknowledging the challenges ahead but emphasizing its determination to grow. Heirs Energies is also the largest supplier of domestic gas in Nigeria’s South East, providing gas to multiple power plants and industries in the Port Harcourt area.

Executive Director and CFO Sam Nwanze highlighted OML 17’s turnaround, pointing to improved production efficiency, over 95–100% terminal delivery, and measures to curb oil theft. He also mentioned the launch of the Agbada Non-Associated Gas (NAG) Plant and plans to increase gas output to more than 100 MMscfd, strengthening the company’s position in the domestic energy market.

Both leaders stressed their commitment to Africapitalism, focusing on local content, indigenous leadership, and projects that benefit surrounding communities. With these efforts, Heirs Energies aims to become a leading integrated energy company in Nigeria, including ventures into renewables.