Heirs Energies

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.

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

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

• Upstream oil production
• Domestic gas supply
• Brownfield asset revitalization
• Oil and gas operations
• Integrated energy services

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core 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

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Tony Elumelu Foundation (TEF)coreStrategic or Co-development Partner · 23 March 2026Heirs 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 GasminorChannel Partner/ Reseller/ Distributor · 9 December 2025Approved 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 EnergiesminorChannel Partner/ Reseller/ Distributor · 9 December 2025Approved flare gas offtaker under NGFCP framework, partnering to commercialize flare gas from OML 17 operations.
• Gas & Power Infrastructure Development Limited (GPID)minorChannel Partner/ Reseller/ Distributor · 9 December 2025Approved flare gas offtaker for NGFCP, purchasing flare gas from OML 17 for gas-to-market solutions.
• PCCDminorChannel Partner/ Reseller/ Distributor · 9 December 2025Approved flare gas offtaker under NGFCP and Non-NGFCP frameworks for flare gas commercialization at OML 17.
• Africa Gas & Transport Company Limited (AGTC)minorChannel Partner/ Reseller/ Distributor · 9 December 2025Approved flare gas offtaker under NGFCP framework, enabling conversion of flare gas to power, industrial applications, LPG and CNG.
• Nigerian Upstream Petroleum Regulatory Commission (NUPRC)coreOthers · 26 November 2025NUPRC 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 LimitedcoreStrategic or Co-development PartnerNNPC/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)coreOthersMajor 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)coreOthersPower generation customer benefiting from increased gas supply from OML 17. Recorded improved operations and higher generation capacity following gas production increases.
• Geometric PowercoreOthersPower 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

Broad 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

• Xx.com/Heirsenergies
• Facebookfacebook.com/HeirsEnergies

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heirs Energies