Heirs Oil & Gas’ OML 17wins PFI Africa Deal Of The Year 


Africa’s integrated energy company has been awarded the ‘Africa deal of the year 2021’byProject Finance International (PFI), following the $1.1 billion financing and acquisition of45% stake in OML 17 in 2021. The award ceremony which took placeon Monday, May 9 2022in London was a gathering ofsenior industry leadersacross various sectors to celebrate excellence. 

“On behalf of the HHOG team, I would like to thank PFI for this great honour which recognises the OML 17 acquisition deal, while also acknowledging the efforts of the entire team involved in the transaction.” said Executive Director, Heirs Oil & Gas, Samuel Nwanze. 

The deal, which was announced in January 2021, saw Heirs Holdings, the leading African strategic investor, in partnership with affiliated company Transnational Corporation (Transcorp), acquire a 45% participating interest in Nigerian oil license OML 17 and related assets from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI.  

While acknowledging the award, Chief Executive Officer, Heirs Oil & Gas, Osayande Igiehon said “This great recognition reiterates our commitment to excellence in ourbid to fulfil Africa’s unique energy needs and ensure that Africa’s natural resources are directed toward value creation on the continent.” 

The PFI awards is organised by Project Finance International (PFI),a leading source in global project finance reporting, covering all the major sectors, including transport, power, oil & gas, infrastructure and mining. 


About Heirs Oil & Gas 

Heirs Oil & Gas is a leading African, indigenous owned, integrated energy company, headquartered in Nigeria, whose assets include Nigerian oil block OML 17, with a current production capacity of over 30,000 barrels of oil equivalent per day and 2P reserves of 1.2 billion barrels of oil equivalent, with an additional 1 billion barrels of oil equivalent resources of further exploration potential. 

Heirs Oil & Gas (HHOG) is jointly owned by Heirs Holdings, the leading African strategic investor and affiliate company Transnational Corporation Plc (Transcorp), Nigeria’s largest publicly listed conglomerate.