Heirs Energies Secures $750 Million Financing from Afreximbank

Heirs Energies Limited, a leading energy firm in Nigeria, has successfully obtained a $750 million financing deal with the African Export–Import Bank (Afreximbank). This significant transaction, sealed in Abuja, underscores Heirs Energies' strong operational performance and governance standards.

The infusion aims to boost field development and production optimization. Since acquiring OML 17, Heirs Energies has doubled its oil production and significantly increased gas output. The company's focus on efficient brownfield interventions and infrastructure optimization has proven successful, transitioning it to a more stable capital structure.

This financing is a testament to lender confidence in African enterprises' potential. Tony O. Elumelu, Chairman of Heirs Energies, highlighted the deal as a milestone in their growth journey, reflecting the power of African capital in driving regional economic transformation. Dr. George Elombi of Afreximbank reiterated the bank's confidence in supporting such pivotal growth stages.