from OKORO CHINEDU in Lagos, Nigeria
Nigeria Bureau
LAGOS, (CAJ News) – HEIRS Energies Limited has secured international recognition after its landmark US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.
The award, presented in London on 3 June, celebrates one of the largest financings ever secured by an indigenous African energy company and underscores the growing role of African institutions in funding major strategic investments across the continent.
The financing, executed in partnership with the African Export-Import Bank (Afreximbank), was structured to accelerate field development, optimise production and support Heirs Energies’ long-term growth ambitions while maintaining disciplined capital management.
The transaction is widely regarded as a significant milestone in the company’s evolution, aligning its capital structure with the long-term development profile of its reserves.
The recognition also reflects the vision championed by Heirs Energies Chairman, Tony O. Elumelu, CFR, that African-led businesses and financial institutions can successfully mobilise capital to unlock the continent’s vast resource potential, strengthen energy security and generate sustainable economic value.
Osa Igiehon, Chief Executive Officer of Heirs Energies, said the award highlighted the confidence that both African and international financial institutions continue to place in the company’s strategy and long-term vision.
“This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy and our long-term vision,” he said.
“The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth and value creation.”
Haytham ElMaayergi, Executive Vice President, Global Trade Bank at Afreximbank, described the transaction as a compelling example of how Africa-focused financing can support companies with strong governance, quality assets and clear growth plans.
He noted that the deal demonstrated the capacity of African financial institutions to mobilise capital for strategic businesses that advance production, energy security and sustainable development.
Samuel Nwanze, Executive Director and Chief Financial Officer of Heirs Energies, said the award validated both the strength of the financing structure and the confidence shown by the company’s lending partners.
Since assuming operatorship of OML 17 in 2021, Heirs Energies has more than doubled oil production to over 50,000 barrels per day and tripled gas output to more than 135 million standard cubic feet per day, reinforcing its position as one of Africa’s leading indigenous energy producers.
– CAJ News