Nigerian oil company Heirs Energies is looking to expand its operations into the Republic of the Congo as part of its broader African growth strategy. Samuel Nwanze, Executive Director and CFO of Heirs Energies, confirmed the company’s interest in replicating its successful business model beyond Nigeria’s borders.
As the sole operator of OML 17 in Nigeria’s Niger Delta, Heirs Energies has built its reputation on maximizing mature assets through operational efficiency. Nwanze emphasized the company’s philosophy of increasing the potential of mature fields without necessarily drilling new wells or acquiring new assets. The company has achieved significant growth at OML 17 by reworking existing assets to extend the life of mature fields.
Heirs Energies positions itself as a champion of Africapitalism, being 100 percent indigenous with 95 percent of its contractors also being indigenous. The company’s approach focuses on developing in-house capabilities and ensuring that African nations maintain control over their natural resources. All gas produced by the company in Nigeria is directed to the domestic market to power local industry.
Source: energycapitalpower.com