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Nigeria’s Heirs Energies Eyes Congo Expansion
Nigerian oil company Heirs Energies is looking to expand its operations into the Republic of the Congo. Samuel Nwanze, Executive Director/CFO of Heirs Energies outlined the company’s growth strategy and commitment to African-led energy solutions during a press conference at African Energy Week (AEW): Invest in African Energies 2025.
Heirs Energies is currently the sole operator of OML 17 in Nigeria’s Niger Delta and the company has built its reputation on maximizing mature assets. “Yes, we are interested in expanding our business model in Nigeria and other African countries and Congo is on the map,” stated Nwanze.
Nwanze emphasized the company’s operational philosophy, “Our approach rests on increasing the potential of mature fields and ensuring production efficiency is high. We scrutinize every single piece of equipment and every well, asking if it is delivering to the maximum of its potential.” The company has seen significant growth at OML 17 without acquiring new assets. “We have not drilled new wells or taken on new assets; we have managed to rework existing assets to extend the life of mature fields,” said Nwanze.
The press conference also highlighted Heirs Energies’ role in promoting Africapitalism. “Heirs Energies is 100% indigenous, a truly African brand and 95% of our contractors are indigenous. Our philosophy is to develop in-house. Having control over our resources, including oil and gas, allows us to drive meaningful impact,” explained Nwanze. “All of the gas we produce in Nigeria goes into the domestic market to power the industry,” he concluded.