HEIRS ENERGIES SECURES $750M AFREXIMBANK DEAL TO FUEL GROWTH
GREATRIBUNETVNEWS–Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has signed a $750 million financing deal with Afreximbank to drive long-term growth.
KEY ISSUES:
– Financing Details: $750 million deal with Afreximbank to accelerate field development and optimize production.
– Growth Plans: Double production, enhance operational efficiency, and pursue value-accretive opportunities.
– OML 17 Performance: Production up from 25,000 bopd to 50,000 bopd; gas production at 120 mmscf/d.
– Impact: Supports Nigerian domestic gas market, power generation, and community relations.
– Quote:
– Tony O. Elumelu, Chairman, Heirs Energies: “This transaction is a powerful affirmation of what African enterprise can achieve… Africa financing Africa’s future.”
– Dr. George Elombi, President, Afreximbank: “Afreximbank is proud to support Heirs Energies… driving sustainable economic transformation across the continent.”
About Heirs Energies
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs, while aligning with global sustainability goals. Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contribute to a more prosperous Africa.
About Afreximbank
The African Export-Import Bank is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. The Bank plays a critical role in supporting Africa’s industrialisation, trade expansion, and economic transformation.
About the Author
