Heirs Oil & Gas (HHOG), the leading African integrated energy company, has announced the appointment of Osayande Igiehon as chief executive officer, effective May 4, 2021, together with a distinguished non-executive board.
The appointment brings together leading industry figures, with considerable global and regional experience.
Heirs Holdings Limited’s (HH) portfolio company (HHOG) completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of US$1.1 billion.
The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa. Through a series of strategic portfolio holdings, HH is executing this strategy. Most recently, affiliate company, Transcorp made a US$300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.
Igiehon is joining from the Royal Dutch Shell (Shell) where he was previously a vice-president with the Group in The Hague, Netherlands.
He brings over 27 years of experience and expertise in the oil and gas sector with Shell where he held a series of senior management positions.
Mr. Igiehon previously served as Chairman and Chief Executive Officer of Shell Gabon, where he led the successful turnaround of the operational, safety and financial performance.
HHOG also announced the appointment of the following private sector and senior industry leaders to the Board: Tony O. Elumelu, chairman of Heirs Holdings, the United Bank for Africa (UBA), Transnational Corporation of Nigeria (Transcorp), and Founder of the Tony Elumelu Foundation; Sally Udoma; Anil Dua; Ahmadu Kida; Stanley Lawson and Samuel Nwanze
Chairman of the Board, Tony Elumelu, said, “I am delighted to welcome our new board members. We are building a role model institution for African businesses and our investment in human capital is a further strong demonstration of our intent. The regional and global expertise of our board members will serve to further drive value creation to our continent, as we execute our goal of becoming Africa’s largest, indigenous, integrated, energy company.”