Indigenous Oil Firm Secures Loan To Strengthen Production Capacity

Heirs Energies is strengthening its oil field production capacity after securing a funding facility.

The financing transaction by the indigenous company further demonstrated that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation.

The firm operating a prolific oil and gas field in the country is set to make significant progress in its oil field development after a landmark US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility.

The facility has been named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.

The award was presented on 3 June 2026 in London and recognises one of the largest financings secured by an indigenous African energy company.

The transaction reflects the vision of Heirs Energies’ chairman, Tony Elumelu, that African institutions and African-led businesses can successfully mobilise capital to unlock the continent’s resources, advance energy security, and create long-term economic value.

Executed with the African Export-Import Bank (Afreximbank), the US$750 million financing was structured to accelerate field development, optimise production, and support Heirs Energies’ long-term growth ambitions, while maintaining disciplined capital management.

Commenting on the recognition, chief executive officer of Heirs Energies, Osa Igiehon, said: “This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy, and our long-term vision.

The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation. We are proud to receive this award and grateful to our financing partners, advisers, and stakeholders whose support made it possible.”

The executive vice president, Global Trade Bank at Afreximbank, Haytham ElMaayergi, said: “We are truly honoured that the US$750 million dual-tranche Senior Secured Reserve-Based Lending facility for Heirs Energies has been recognised as Best Oil & Gas Deal of the Year by the EMEA Finance Project Finance Awards.

This recognition underscores the importance of well-structured, Africa-focused financing in supporting indigenous energy companies with strong governance, high-quality assets and clear long-term growth plans.

Afreximbank was proud to support this landmark transaction, which demonstrates how African financial institutions can help mobilise capital for strategic businesses that advance energy security, production capacity and sustainable value creation across the continent.

We congratulate Heirs Energies and all the partners involved in the transaction and are pleased to see this important financing recognised on such a respected international platform.”

The executive director and chief financial officer of Heirs Energies, Samuel Nwanze,  added:

“This award validates the strength of the transaction and the confidence our financing partners placed in Heirs Energies.

The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation, and sustainable value creation. We are pleased to see the transaction recognised on such a respected global platform.”

The financing represented a major milestone in Heirs Energies’ evolution from acquisition-led financing to a capital structure aligned with the long-term development profile of its reserves. It further reinforced the Company’s position as a leading indigenous energy producer and demonstrated the ability of African institutions to finance transformational African businesses.

The EMEA Finance Project Finance Awards recognise outstanding transactions across Europe, the Middle East, and Africa, celebrating excellence, innovation, and impact in project and structured finance.Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company and operator of OML 17.