Heirs Energies, one of Africa’s indigenous-owned integrated energy firms, has said its success in reviving declining oil assets is proof that African companies can unlock value in areas where international oil giants have pulled out. The company made this known in a statement on Thursday, ahead of its participation in the African Energy Week 2025 taking place in Cape Town, South Africa.
According to the statement, the Chief Executive Officer of Heirs Energies, Mr. Osa Igiehon, will represent the company at the conference and lead conversations on how local operators are reshaping Africa’s oil and gas story. He is scheduled to speak at the session tagged Frontier Plays Within Africa’s Mature Basins on September 30, where he will highlight how Heirs Energies successfully transformed Oil Mining Lease 17 (OML 17) into a model of operational excellence led by Africans.
Mr. Igiehon explained that the company’s record proves the potential of indigenous firms in unlocking opportunities within mature and frontier assets. “At Heirs Energies, we don’t just believe Africa’s mature and frontier assets hold promise; we have proven it. The OML 17 turnaround shows that with the right governance, innovation, and local execution, indigenous operators can unlock value where others saw decline,” he said.
On October 1, the Heirs Energies CEO will also participate in the Invest in the Republic of Congo Roundtable, where he is expected to share insights from Nigeria’s oil sector. He will speak on how new frontiers across Africa can benefit from Nigeria’s brownfield expertise, community engagement strategies, and investor confidence, which have been central to the company’s success in recent years.
In addition, Heirs Energies’ Executive Director and Chief Financial Officer, Mr. Sam Nwanze, will feature in the panel discussion titled Navigating Asset Divestments in Africa’s Upstream Sector, also scheduled for October 1. Mr. Nwanze will discuss the opportunities that exist for African energy firms as international oil majors continue to divest their onshore and shallow water assets across the continent. He stressed the importance of credibility and trust in attracting investors to indigenous oil and gas projects.
“The divestment wave creates opportunities for African players to lead, but credibility is key. Success depends on structuring investable projects, building trust with partners, and embedding impact into every deal,” Mr. Nwanze said.
Heirs Energies noted that its participation at the African Energy Week reflects its commitment to Africapitalism, a philosophy championed by the Chairman of Heirs Holdings, Mr. Tony Elumelu. Africapitalism places the private sector at the centre of Africa’s economic transformation, promoting local ownership, entrepreneurship, and long-term investment in key industries.
The company recalled how it doubled oil production at OML 17 within its first 100 days of operation after taking over the asset. It also highlighted its achievement in ensuring that every molecule of gas produced is channelled to power Nigerian homes and industries, contributing to the nation’s energy security.
Since acquiring OML 17 in 2021, Heirs Energies has positioned itself as an example of how African companies can manage large-scale oil and gas operations successfully. The firm has consistently emphasised strong governance, innovative financing, community partnership, and sustainable practices as its guiding principles.
Industry watchers believe that the participation of Heirs Energies at the Cape Town event is significant, as it reinforces the growing role of African independents in shaping the future of the continent’s energy landscape. With global oil majors exiting some parts of the African upstream sector, indigenous operators are expected to take up the responsibility of driving investment, boosting production, and ensuring long-term sustainability of resources.
The African Energy Week 2025 will bring together government leaders, investors, and stakeholders from across the continent to discuss policies, investments, and innovations needed to drive Africa’s energy sector. For Heirs Energies, the platform offers an opportunity to showcase its achievements and to advocate for a future where African companies are not just participants but leaders in global energy development.
By positioning itself as a successful model of local execution and investment, the company continues to strengthen its reputation as a leading indigenous player. With its philosophy rooted in Africapitalism, Heirs Energies is demonstrating how African companies can take ownership of their natural resources and ensure that energy development delivers broad benefits to local communities and economies.
