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Heirs Energies, Africa’s fast-growing indigenous integrated energy company, has joined other stakeholders to discuss ways of ramping up oil production in Nigeria.
The company recently hosted its inaugural Petroleum Industry Leadership Dialogue in Abuja, bringing together public and private sector leaders to accelerate Nigeria’s production growth.
The forum, moderated by the Chief Executive Officer of Heirs Energies, Osayande Igiehon, featured speakers like the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe; the Chairman, OPEC Board of Governors and CEO of First E&P, Adewale Adeyemo-Bero; the Executive Vice-President Upstream, Nigerian National Petroleum Company Limited, Udobong Ntia and the CEO of Seplat Energy Plc, Roger Brown.
The Dialogue provided a timely venue for private and public sectors to continue the successful interaction that has already seen Nigeria’s crude production grow by 25 per cent since May 2023.
Speakers highlighted how a series of Presidential Executive Orders had radically reshaped the operating environment and catalysed industry growth.
They maintained that indigenous oil and gas companies are now
responsible for more than 60 per cent of Nigeria’s crude output and the successful indigenisation programme was delivering a bold new chapter in Nigeria’s natural resources history.
Founder and Chairman of Heirs Holdings and Chairman of Heirs Energies, Tony Elumelu, in his opening remarks, paid tribute to the catalytic role that the current government had played in reinvigorating the sector.
Elumelu also set out Heirs Holdings’ vision of transforming Africa’s energy landscape, through indigenous leadership and sustainable development.
According to him, Heirs Energies, in just four years, had rapidly grown its hydrocarbon production from 21,000 to over 50,000 barrels per day.
Elumelu stated, “Production growth, ambitious and sustained, is our shared national mission. I am honoured that Heirs Energies is bringing together distinguished peers from the industry and our partners in government. As an investor not just in resources, but in Nigeria’s power production and distribution sectors, all of us, need to come together to ensure Nigerians get the benefits of our resources. As we build Africa’s largest integrated energy business, innovation and collaboration are central to our execution.”
Speaking at the forum, Minister of State for Petroleum Resources (Oil), Lokpobiri, applauded Heirs Energies for hosting the inaugural event.
The oil minister announced that Nigeria’s oil production had reached 1.8 million barrels per day in January 2025 and set an ambitious target of 2.5 million barrels per day for 2025.
Heirs Energies CEO, Osa Igiehon, said, “Our success at Heirs Energies demonstrates what’s possible in Nigeria’s onshore sector, through our Brownfield Excellence Strategy, robust security measures, and genuine community partnership. By tripling our producing wells to over 100, we’ve shown how indigenous operators can efficiently unlock value while ensuring sustainable development of host communities.”
The Petroleum Industry Leadership Dialogue, which will become an annual event, brought together key stakeholders in the oil and gas industry, including the Managing Director of The Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel Holdings, Adegbite Falade; and industry veteran and founder of Platform Petroleum & Managing Director A.A Holdings, Austin Avuru, among others.
