Chief Executive Officer, Heirs Energies, Osayande Igiehon, has said the company targets to surpass 100,000 barrels per day crude production.
He stated that the company within three months of acquiring OML 17 from the previous operator in 2021, has doubled production from 25,000 barrels per day to over 50,000 barrels.
He spoke while delivering insights on African energy leadership at the inaugural Congo Energy & Investment Forum held in Brazzaville, according to a company’s statement on Tuesday.
Osa who joined distinguished panels of African business leaders at the Kintele Congress Center spoke on two key themes: “Energy & Investment Outlook” and “Field Development Drive: Towards 500,000 Barrels Per Day.”
He shared practical strategies on how the Republic of Congo could accelerate its journey toward achieving its ambitious 500,000 barrels per day production target.
Igiehon said, “Within three months of acquiring OML 17 from the previous operator in 2021, we doubled production from 25,000 barrels per day to over 50,000 barrels,” Osa told the audience.
“Today, we consistently sustain this growth, aiming to surpass 100,000 barrels per day – something previously unachieved on this block. The same approaches can help Congo maximize production from its mature fields.”
He also highlighted the company’s successful doubling of gas production to 80-100 million scf per day, directly supporting Nigeria’s domestic power generation and industrial sectors.
He emphasized Heirs Energies’ Brownfield Excellence approach as a blueprint for rapid production growth that could be replicated across Congo’s mature energy assets to help reach the nation’s production goals.
According to the statement, the forum, organized by Energy Capital & Power in partnership with the Republic of Congo’s Ministry of Hydrocarbons, brought together government officials, industry leaders, and investors to discuss strategies for accelerating energy development across the continent.
The Heirs Energies CEO also underscored the importance of Africapitalism the philosophy pioneered by Heirs Holdings Chairman Tony Elumelu as a guiding principle for energy development that creates shared prosperity.
He said, “Driven by our Chairman Tony Elumelu’s philosophy of Africapitalism, we lead with private sector solutions that create shared prosperity and improve lives across Africa. This is the spirit of the Heirs Holdings Group.
“This approach is exemplified by the Tony Elumelu Foundation, which recently committed $15 million to fund 3,000 entrepreneurs across all 52 African countries. Since launching with a $100 million commitment in 2015, the Foundation has now empowered over 24,000 entrepreneurs – more than double its initial target – catalyzing job creation and economic development continent-wide.
“We believe in partnerships built on shared destiny, where success benefits all stakeholders.
“Africa-to-Africa collaboration must be enhanced to address our common challenges of energy poverty and economic development.”
Osa also highlighted Heirs Energies’ operational excellence and turnaround expertise:
“We are specialists in revitalizing mature assets across multiple sectors – from hospitality, exemplified by the Transcorp Hilton Abuja, to significant contributions in power generation and distribution, driving efficiency and sustainable value creation,” he said.
The forum provided a platform for Heirs Energies to advance discussions on potential partnerships in the Congo Basin as part of its Pan-African expansion strategy, according to the statement.
Echezona Okafor.
