In addition, the company said it has doubled gas production from under 50 MMSCF/d to over 120 MMSCF/d, tripling gas supplied into the domestic market from 30MMSCF/d to over 100 MMSCF/d and enabling electricity generation to grow from less than 100 MW to over 325 MW.

The company listed these among others achievements while marking the “five years of operatorship of OML 17”.

The company narrated how it acquired 45 per cent of OML 17 on 15 January 2021 for US$1 billion and assumed operatorship ahead of plan on 1 July 2021.

According to a statement, the company operated safely since inception with zero fatalities and no Lost Time Injuries (LTI), underpinned by its proprietary safety culture, “Everyone is a Safety Officer.”

“Today marks five years since Heirs Energies assumed operatorship of OML 17, taking responsibility for one of Nigeria’s most complex brownfield assets and committing to steward it with discipline, resilience, and long-term intent.

“This milestone is not defined by the passage of time, but by what has been delivered,” the company said in a statement.

“Heirs Energies was built on a clear conviction: that African capital, leadership, and expertise can responsibly operate strategic energy assets, deliver performance, and contribute meaningfully to national development.

“Over the past five years, that conviction has been tested and proven through execution,” the company said.

Reeling out some of the achievements, Heirs Energies said it achieved growth without drilling new wells or building new facilities, through rigorous restoration of legacy assets using its proprietary Brownfield Excellence methodology, including the reactivation of approximately 100 dormant wells and sustained operation of 65-year-old pumps at over 85 per cent uptime.

The company said it catalysed a country-level response to crude oil theft, contributing to a dramatic recovery in terminal delivery from as low as 3 per cent in December 2021 to over 95 per cent since 2025.

On cost and performance leadership, the company is ranked among operators in Nigeria as delivering the highest oil production increase between 2020–2024, while remaining one of the top three lowest-cost operators.

On financial discipline and credibility, the company said it established a strong track record with local, regional, and global lenders, fulfilling all lending obligations without fail, culminating in a US$750 million refinancing with Afreximbank.

In a strategic expansion, the energy company said it acquired a 20 per cent equity stake in Seplat Energy Limited at the end of 2025, therefore becoming the company’s largest single shareholder.

In the area of people and capability, the company said it has built a 100 per cent Nigerian workforce with top-quartile capability and culture, combining experienced professionals with a new generation of talent delivering industry-leading outcomes.

These outcomes, the company explained were achieved through disciplined execution, strong partnerships with government and regulators, the confidence and support of financiers, deep engagement with host communities, and the unwavering commitment of the people.

“This journey reflects the long-term vision of our Chairman, Tony O. Elumelu, and stands as a practical demonstration of Africapitalism in action – where African enterprises deliver economic value, social impact, and national development in parallel,” the company said.

The company expressed gratitude to its partners, regulators, host communities, lenders, and stakeholders who believed in the journey and stayed the course.

“As we mark Heirs Energies at five, we do so with pride and humility – but also with clarity of purpose. We are not looking back in celebration alone. We are focused on the future,” statement by the company read.