Heirs Energies has announced the successful reactivation of more than 100 oil wells within 100 days of assuming full operations of Oil Mining Lease (OML) 17 in the Niger Delta.
At a media briefing on Thursday, the company’s Chief Executive Officer, Osa Igiehon, said production from the asset has significantly improved compared to the state at takeover, when fewer than 30 wells were active.
According to him, one of the recently reactivated wells had been shut down for 37 years due to community and security challenges, which have now been resolved. He noted that the company’s operations now achieve over 95–100 percent terminal delivery.
The CEO reaffirmed the company’s target of reaching 100,000 barrels per day, stressing that while the process would not be easy, Heirs Energies remains committed to transparency, growth, and its Africapitalism philosophy of driving economic and social impact.
He further disclosed that Heirs Energies is the largest supplier of domestic gas in Nigeria’s South East, serving four power plants and several industries in Port Harcourt and surrounding areas. “All our gas output is supplied to the domestic market, not for export, and we are proud of that,” he said.
Executive Director and Chief Financial Officer, Sam Nwanze, also presented details of the company’s transformation plan for OML 17, highlighting increased gas output and the commissioning of the Agbada Non-Associated Gas Plant. Current gas production has reached over 100 million standard cubic feet per day, reinforcing the company’s position as a major player in Nigeria’s domestic energy market.
Heirs Energies, a subsidiary of Heirs Holdings founded by businessman Tony Elumelu, emphasized its reliance on local expertise, indigenous leadership, and community partnerships as part of its long-term growth strategy.
