Heirs Energies Limited’s landmark $750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility — one of the largest ever structured for an indigenous African energy company — has been named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.
The award was presented on June 3, 2026, in London, shining a global spotlight on what insiders already regarded as a transformative moment for Africa-led energy financing. The facility was executed with the African Export-Import Bank (Afreximbank) and structured to accelerate field development, optimise production, and underpin Heirs Energies’ long-term growth ambitions while maintaining disciplined capital management.
Osa Igiehon, Chief Executive Officer of Heirs Energies, called the recognition a vote of confidence in the company and the continent: ‘This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy, and our long-term vision. The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation.’
Haytham ElMaayergi, Executive Vice President at Afreximbank, said the award underscored what purpose-driven African financing could achieve: ‘Afreximbank was proud to support this landmark transaction, which demonstrates how African financial institutions can help mobilise capital for strategic businesses that advance energy security, production capacity and sustainable value creation across the continent.’
Samuel Nwanze, Executive Director and CFO of Heirs Energies, described the facility as a fundamental evolution in the company’s capital structure: ‘The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation, and sustainable value creation.’
The numbers behind the story are striking. Since assuming operatorship of OML 17 in 2021, Heirs Energies has more than doubled oil production to over 50,000 barrels per day and tripled gas production to over 135 million standard cubic feet per day. The company now contributes approximately five percent of Nigeria’s total oil production and five percent of domestic gas supply.
The recognition also carries a broader continental message — embodying the vision of Heirs Energies Chairman Tony O. Elumelu that African institutions and African-led businesses can successfully mobilise capital to unlock the continent’s resources and create long-term economic value.
Source: orientalnewsng.com | EMEA Finance Project Finance Awards 2026