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Heirs Energies, Oando to Chart Nigeria’s Next Upstream Growth Story at AEW 2026
After years of acquiring assets from international operators, indigenous Nigerian companies have begun to focus on expanding production and deploying fresh capital to unlock greater value from some of the country's largest upstream portfolios. Against this backdrop, African Energy Week (AEW) 2026 welcomes senior executives from Heirs Energies and Oando, whose participation comes as both companies execute ambitious growth strategies reshaping Nigeria’s upstream landscape.
The speaker lineup includes Samuel Nwanze, Executive Director and Chief Financial Officer, Heirs Energies; Efuntomi Akpeneye, Group Chief Legal Officer, Oando PLC; and Solomon Agba, General Manager of Base & District Management, Oando Energy Resources. Together, they bring expertise spanning finance, legal strategy, asset integration and field operations.
Nwanze joins AEW 2026 as Heirs Energies accelerates one of Nigeria’s most ambitious indigenous expansion strategies. Since taking over OML 17, the company has increased production to more than 50,000 barrels of oil per day (bpd) while growing natural gas output to 135 million standard cubic feet daily. Supporting that expansion is a $750 million reserve-based lending facility arranged with Afreximbank, whose financing underpins reserve development and Heirs Energies’ target of reaching 100,000 bpd.
Beyond production growth, Heirs Energies is investing in digital operations across its upstream business. During 2026, the company commissioned its Integrated Operations Monitoring Center, expanded Starlink connectivity across producing assets and advanced gas commercialization projects designed to monetize flared gas from OML 17. Nwanze has also emerged as a leading voice on African energy finance and regional development, arguing that domestic resource developments and energy transition objectives should progress together, while identifying the Republic of Congo as a strategic opportunity to replicate the company’s brownfield operating model.
Representing Oando, Akpeneye and Agba arrive at AEW 2026 following the company’s transformational acquisition of Nigerian Agip Oil Company. The transaction significantly expanded Oando’s upstream portfolio, adding operatorship of OMLs 60, 61, 62 and 63 while strengthening its position among Africa’s leading independent producers. Alongside operational growth, Oando has focused on strengthening its financial position. The company reported ₦204.8 billion in net profit for FY2025 before launching a ₦221.8 billion rights issue aimed at reinforcing its capital structure and supporting future investment across its enlarged asset base.
“Indigenous companies are proving they have the expertise and ambition to develop Africa’s energy resources at world-class standards,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their continued growth is strengthening investment confidence while creating new opportunities across the continent’s energy value chain.”
By bringing together executives responsible for finance, legal strategy and operational delivery, AEW 2026 – set for October 12–16 in Cape Town – will provide delegates with practical perspectives on how indigenous companies are building larger, stronger and more competitive energy businesses. Their participation reflects the conference’s commitment to showcasing the companies shaping Africa’s investment landscape.