Heirs Energies, an independent Nigerian oil and gas company, has announced a production milestone, surpassing 50,000 barrels per day (bpd). The company’s production has more than doubled from 21,000 bpd in just four years.
At the inaugural Petroleum Industry Leadership Dialogue in Abuja, Heirs Energies’ founder and chairman, Tony Elumelu, commended the government’s role in revitalizing Nigeria’s independent oil sector.
“Production growth, ambitious and sustained, is our shared national mission,” Elumelu stated, emphasizing innovation and collaboration in building Africa’s largest integrated energy business.
CEO Osa Igiehon attributed the company’s success to its brownfield development strategy, security measures, and community partnerships. By tripling its producing wells to over 100, Heirs Energies exemplifies how indigenous firms can unlock value sustainably.
Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, revealed that the country’s oil production reached 1.8 million bpd in January 2025, with plans to increase it to 2.5 million bpd by the end of the year.
Speakers at the event highlighted how regulatory reforms and executive orders have strengthened the operating environment for independent oil companies, now responsible for over 60% of Nigeria’s crude output.
Source: Oil Review Africa
