Heirs Energies
Heirs Energies is Africa's largest indigenous-owned integrated energy company, operating the OML 17 asset in Nigeria's Niger Delta to produce over 50,000 barrels of oil per day and supply domestic gas enabling 350MW+ of power generation for power and industrial customers.
- Company typePrivate
- Founded2021
- HeadquartersLagos, Nigeria
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Heirs Energies does
Heirs Energies Limited is Africa's largest indigenous-owned integrated energy company, headquartered in Lagos, Nigeria, and operating primarily as an upstream oil and gas producer and B2B gas supplier. Founded in 2021 as a subsidiary of Heirs Holdings (with Tony O. Elumelu as Chairman), the company is the sole operator of the OML 17 asset in Nigeria's Niger Delta through a joint venture with NNPC Limited. OML 17 holds reserves exceeding 1.5 billion barrels of oil and 2.5 trillion cubic feet of gas, and currently produces over 50,000 barrels of oil per day and 135+ MMscf/d of gas, contributing roughly 5% of Nigeria's oil production and 5% of domestic gas supply.
The company's core technology is its proprietary Brownfield Excellence (BFE) methodology, which combines rigorous technical evaluation with rigless through-tubing recompletion interventions to revitalize mature wells. Documented applications at the Agbada-67 and Agbada-68 wells delivered 65% lower cost and 32% faster execution versus conventional workovers, and the November 2025 Agbada-67 intervention — the first rigless recompletion of a non-associated gas well in Nigeria — doubled gas output to a peak of 135 MMscf/d. Supporting infrastructure includes the Agbada Non-Associated Gas Plant, digital well monitoring and reservoir-surveillance analytics, and Starlink-enabled connectivity at remote Niger Delta sites.
Heirs Energies generates revenue through three streams: oil production sold into domestic and export markets via the Trans Niger Pipeline; domestic gas supply to power-generation companies and industrial users through Nigeria's eastern gas network; and gas flare commercialization under the Nigerian Gas Flare Commercialization Programme (NGFCP), with agreements signed with five approved offtakers. Named customers include Transcorp PLC (TransAfam Power), First Independent Power Limited (FIPL), and Geometric Power for gas supply, alongside NGFCP offtakers AUT Gas, Twems Energies, GPID, PCCD, and AGTC. The company has secured over $1 billion in capital since inception, including a $750 million Afreximbank Reserve-Based Lending facility in December 2025 and a $500 million deployment to acquire a 20.07% stake in Seplat Energy, positioning the business as an integrated energy operator with adjacent growth optionality.
Heirs Energies firmographics
Firmographics- Name
- Heirs Energies
- Legal name
- Heirs Energies Limited
- Website
- https://heirsenergies.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Heirs Energies is Africa's largest indigenous-owned integrated energy company, operating the OML 17 asset in Nigeria's Niger Delta to produce over 50,000 barrels of oil per day and supply domestic gas enabling 350MW+ of power generation for power and industrial customers.
- Ownership category
- akta.pro rank
Heirs Energies industry classification
Industry- Product category
- Upstream Oil & Gas Production
- NAICS
- Oil and Gas Extraction (2111), Natural Gas Extraction (211130), Crude Petroleum Extraction (211120), Oil and Gas Extraction (211)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)
- akta.pro secondary industries
- Onshore Natural Gas E&P (Conventional Fields) (EUAAAAAG), Well Intervention, Workover & Integrity Management (EUALAAAJ), Well Intervention, Workover & Integrity (Coiled Tubing, Wireline, Plug & Abandonment) (EUAAAAAL), Well Completion & Stimulation (Hydraulic Fracturing, Sand Control) (EUAAAAAJ)
Keywords
Where Heirs Energies is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
Heirs Energies business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Oil Production and Sales: Upstream oil production from OML 17 asset in Niger Delta. Production doubled from ~25,000 bopd to over 50,000 bopd since 2021 acquisition. Oil sold into domestic and export markets. Contributes approximately 5% of Nigeria's total oil production.
- Domestic Gas Supply: All gas production supplied into Nigeria's domestic gas network for power generation and industrial applications. Gas production tripled to over 135 million standard cubic feet per day. Powers over 350MW of electricity generation, with plans to expand to 400MW.
- Gas Flare Commercialization: Commercialization of flare gas under Nigeria Gas Flare Commercialization Programme (NGFCP). Agreements signed with approved offtakers (AUT Gas, Twems Energies, GPID, PCCD, AGTC) to capture flare gas for power generation, industrial applications, LPG and CNG.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Reserve-Based Lending Facility |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Heirs Energies product offering
Product offeringCore offering
Heirs Energies is an upstream oil and gas producer operating OML 17 in Nigeria's Niger Delta through a joint venture with NNPC, producing over 50,000 barrels of oil per day and over 135 MMscf/d of gas supplied entirely into Nigeria's domestic market. Its commercial operations include the Agbada Non-Associated Gas Plant for domestic gas processing, oil sales into domestic and export markets, and gas flare commercialisation agreements with approved offtakers under the NGFCP framework. The company's offerings are anchored by its proprietary Brownfield Excellence methodology, which uses rigless through-tubing recompletion to revitalize mature wells at significantly lower cost than conventional approaches.
Product overview
Heirs Energies is an indigenous integrated energy company operating primarily as an upstream oil and gas producer in Nigeria, with a portfolio anchored by its operated OML 17 asset in the Niger Delta. The company's core offering consists of oil production (over 50,000 bopd) and domestic gas supply (over 135 MMscf/d) channelled entirely into Nigeria's domestic market to power generation and industrial use. Supporting the upstream operations are the Agbada Non-Associated Gas Plant and the company's participation in the Gas Flare Commercialisation Programme. Heirs Energies positions itself through its Brownfield Excellence methodology — a proprietary operational approach to optimising mature fields through rigless interventions, infrastructure rehabilitation, and data-driven well management. The company also operates community development and environmental programmes including the Host Community Development Trust (HCDT), the Tony Elumelu Foundation entrepreneurship partnership, and the Agbada Green Corridor Initiative. The overall portfolio spans upstream production, gas processing and commercialisation, and social/environmental impact initiatives.
Differentiator
Problem solved
Functional benefit
Products and services
- OML 17 Upstream Oil and Gas Operations Heirs Energies operates OML 17, a prime onshore acreage in Nigeria's Niger Delta, as sole operator through a joint venture with NNPC. The asset produces over 50,000 barrels of oil per day and over 135 million standard cubic feet of gas per day, with reserves exceeding 1.5 billion barrels of oil and 2.5 trillion cubic feet of gas.
- Agbada Non-Associated Gas (NAG) Plant The Agbada NAG Plant, commissioned by Heirs Energies after taking over a facility that had been under development for over 12 years under previous operators, processes non-associated gas for delivery into Nigeria's domestic gas network, supporting power generation and industrial feedstock supply.
- Domestic Gas Supply to Power Generation Heirs Energies supplies all its gas production into Nigeria's domestic market, enabling over 350MW of electricity generation and providing feedstock for gas-based industries. Gas delivery into the eastern domestic network has been catalytic for power generation at plants including Transcorp PLC, FIPL, and Geometric Power.
- Gas Flare Commercialisation Programme (NGFCP) Offtake Supply Heirs Energies participates in Nigeria's Gas Flare Commercialisation Programme, entering agreements with approved flare gas offtakers (AUT Gas, Twems Energies, GPID, PCCD, and AGTC) to capture previously flared gas volumes for productive use including power generation, industrial applications, LPG, and CNG, under NGFCP and Non-NGFCP frameworks.
Quantifiable outcome
- Oil production increased from ~25,000 bopd to over 50,000 bopd within first year of takeover
- +6 more outcomes
Companies that use Heirs Energies
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
Heirs Energies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Heirs Energies partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Tony Elumelu Foundation (TEF)coreHeirs Energies committed $10 million to support 2,000 African entrepreneurs across two cycles (2025 and 2026) of TEF entrepreneurship program. 48% women beneficiaries, 50% of 2026 cohort from Niger Delta. Program addresses financing gaps and promotes economic participation in resource-rich regions.
- AUT GasminorApproved flare gas offtaker under Nigeria Gas Flare Commercialization Programme (NGFCP). Signed agreements to capture flare gas volumes from OML 17 for productive use including power generation and industrial applications.
- Twems EnergiesminorApproved flare gas offtaker under NGFCP framework, partnering to commercialize flare gas from OML 17 operations.
- Gas & Power Infrastructure Development Limited (GPID)minorApproved flare gas offtaker for NGFCP, purchasing flare gas from OML 17 for gas-to-market solutions.
- PCCDminorApproved flare gas offtaker under NGFCP and Non-NGFCP frameworks for flare gas commercialization at OML 17.
- Africa Gas & Transport Company Limited (AGTC)minorApproved flare gas offtaker under NGFCP framework, enabling conversion of flare gas to power, industrial applications, LPG and CNG.
- Nigerian Upstream Petroleum Regulatory Commission (NUPRC)coreNUPRC represented at OML 17 milestone ceremonies including gas output breakthrough. Commission supports flare gas commercialization implementation and ensures operators deliver bankable, environmentally responsible gas-to-market solutions in line with Petroleum Industry Act 2021.
- NNPC LimitedcoreNNPC/Heirs Energies Joint Venture operates OML 17. Partnership demonstrates indigenous operators and national companies driving operational excellence together. JV achieved major breakthroughs including doubling gas output to 135 MMscf/d and flare gas commercialization agreements.
- Transcorp PLC (TransAfam Power)coreMajor power generation customer receiving gas supply from OML 17 through eastern domestic gas network. Quadrupled output from ~50MW to 180+MW following increased gas availability. Combined output from JV-supplied plants reached 350MW+.
- First Independent Power Limited (FIPL)corePower generation customer benefiting from increased gas supply from OML 17. Recorded improved operations and higher generation capacity following gas production increases.
- Geometric PowercorePower generation customer receiving gas from eastern domestic network supplied by OML 17. Experienced more stable operations and higher generation following gas supply improvements.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
Heirs Energies competitors and assessment
Company assessmentBroad incumbents
- Eni (Nigerian operations / NAOC): Major IOC with long-standing Nigerian upstream operations (NAOC, OMLs in the Niger Delta). Previously sold its OML 17 stake to Heirs/Heirs Holdings; serves as a benchmark for the kind of mature Niger Delta asset and gas-to-power value chain Heirs now operates.
- Sahara Group: Africa-focused integrated energy conglomerate with upstream, downstream and power operations. Comparable as a large indigenous African energy player operating across the value chain, though much broader than Heirs' upstream focus.
Direct peers
- First Exploration & Petroleum Development Company: NNPC JV partner on OMLs 83/85, focused on upstream development in Nigeria. Comparable indigenous-leaning operator scaling production on Nigerian acreage.
- ND Western Limited: Indigenous Nigerian operator of OML 34 in the Niger Delta, backed by Nigerian institutional investors. Compares directly as a brownfield-focused onshore Niger Delta E&P with domestic gas ambitions.
- Aiteo Eastern Exploration & Production: Indigenous Nigerian operator with major assets in the Niger Delta, including OML 29. Directly comparable as a Nigerian-focused E&P producing oil and supplying domestic gas.
- Oando PLC: Nigeria's largest integrated indigenous energy company with upstream, midstream and downstream operations. Closely comparable as an indigenous Nigerian E&P competing for similar domestic gas markets and acquisition targets.
- Lekoil Limited: West Africa-focused oil and gas E&P with Nigerian and offshore interests. Compares as an Africa-focused independent pursuing production growth and gas-to-power opportunities.
- Eroton Exploration & Production: Operator of OML 18 in the Niger Delta with indigenous and institutional backing. Directly comparable as another Niger Delta brownfield E&P working to restore mature-field production.
- Waltersmith Petroman Oil: Indigenous Nigerian independent E&P operating marginal field assets and modular refining. Comparable as a Nigerian-led independent focused on optimizing underperforming onshore assets, similar in ethos to Heirs' BFE approach.
- Seplat Energy Plc: Leading Nigerian indigenous upstream operator with onshore/offshore oil and gas assets. Heirs Energies now holds a 20.07% stake, making it Seplat's largest shareholder and the closest indigenous peer in scale and asset mix.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Heirs Energies social profiles
Digital presenceHeirs Energies compliance and trust
Trust signalCompliance2 records
Heirs Energies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Heirs Energies leadership team
Management profileNumber of profiles
Profiles9 records
Heirs Energies funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Heirs Energies M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Heirs Energies
What does Heirs Energies do?
Heirs Energies is an upstream oil and gas producer operating OML 17 in Nigeria's Niger Delta through a joint venture with NNPC, producing over 50,000 barrels of oil per day and over 135 MMscf/d of gas supplied entirely into Nigeria's domestic market. Its commercial operations include the Agbada Non-Associated Gas Plant for domestic gas processing, oil sales into domestic and export markets, and gas flare commercialisation agreements with approved offtakers under the NGFCP framework. The company's offerings are anchored by its proprietary Brownfield Excellence methodology, which uses rigless through-tubing recompletion to revitalize mature wells at significantly lower cost than conventional approaches.
Is Heirs Energies a public or private company?
Heirs Energies is a private company. It is classified as corporate owned and is currently operating.
When was Heirs Energies founded?
Heirs Energies was founded in 2021. It employs 101 to 250 people.
Where is Heirs Energies based?
Heirs Energies is headquartered in Lagos, Nigeria, in the Africa region.
How does Heirs Energies make money?
Three revenue lines are on record. Oil Production and Sales are the primary driver. The others are domestic Gas Supply and gas Flare Commercialization.
Who are Heirs Energies's main competitors?
Broad incumbents on record are Eni (Nigerian operations / NAOC) and Sahara Group. Direct peers are First Exploration & Petroleum Development Company, ND Western Limited, Aiteo Eastern Exploration & Production, Oando PLC, Lekoil Limited, Eroton Exploration & Production, Waltersmith Petroman Oil and Seplat Energy Plc.
Does Heirs Energies have an API?
No public API is recorded for Heirs Energies.
What industry is Heirs Energies in?
Heirs Energies's product category is Upstream Oil & Gas Production. Its primary akta.pro industry code is EUAAAAAA, Conventional Natural Gas Exploration & Production (Dry Gas), with a secondary code of EUAAAAAG, Onshore Natural Gas E&P (Conventional Fields). Its NAICS code is 2111 and its SIC code is 1311.