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Driven by its African identity, Nigerian independent Heirs Energies operates with an in-house development approach, partnering largely with indigenous contractors

Following its inspiring success story with OML 17, the company is ready to take on further challenging projects, now eyeing the Republic of Congo. 

Heirs Energies CEO, Osa Ighiehon, reveals to Oil Review Africa what it takes to thrive as an African independent in today's energy industry and much more: 

How would you define the Africapitalism approach? 

Africapitalism is an economic philosophy pioneered by our Heirs Holdings Group chairman, Tony O Elumelu, CFR. It provides a powerful and practical framework for a more impactful role for the business sector in Africa's development. At its core, is the conviction that the private sector must be a primary catalyst for creating both economic prosperity and sustainable social wealth.

It’s about changing the old story where business in Africa was only about taking resource extraction. Now, it’s about making sure that every investment we make creates value, both commercially and socially, with the latter enabling and uplifting our communities whilst strengthening our economies.

For us at Heirs Energies, this is our north star. When we took over OML 17, it was our chance to prove this works. We set out to demonstrate that African capital, managed by African expertise, could not only revitalise a distressed asset, but do so in a way that delivers shared and enduring prosperity. Today, the results speak for themselves: we doubled production, restored security to the area, and, crucially, embedded community development into our core operations.

But the real success is that we did this while also funding scholarships, providing healthcare, and creating jobs for locals. For us, making a profit and having a positive social impact are two sides of the same coin. This is Africapitalism in action.

What should independents from Nigeria keep in mind while acquiring assets from IOCs? 

Nigerian independents must understand that they are not merely purchasing an asset; they are inheriting a legacy and a material responsibility. The acquisition is the simplest step. The profound challenge lies in the transformation that need to follw for the journey to end well. International Oil Companies typically divest assets that no longer fit their global portfolio, often because they are capital-intensive, have operational challenges, burdened by years of underinvestment, and entangled in complex social and security challenges. The incoming independent must be prepared for this reality from day one.

Our journey with OML 17 is a case study in successfully tackling this reality to achieve a historic turnaround. When we took over, the asset was in severe distress, with terminal delivery of field production at a mere 3% shortly after. This wasn't an operational hiccup; it was a systemic failure, indicating near-total loss to theft and sabotage. We recognised that a purely technical or capital solution would fail. The real breakthrough came from rebuilding the entire ecosystem of trust. We engaged host communities not as a periphery activity, but as the core of our security and operational strategy, while forging strong, collaborative partnerships with government and security agencies. The definitive response by Government to oil and gas asset security that emanated, which has been sustained, is foundational to this spectacular outcome. This catalytic work enabled us to elevate reconciliation to over 99%; a transformation that turned a dying asset into a secure, reliable national contributor.

Critically, independents must resist the inertia and excuses that have plagued and caused the decline of the past two decades. Our advantage is not in the depth of our balance sheets, but in our delivery and growth focus, our solution-mindedness, and our genuine desire to develop our communities and countries. For instance, at Heirs Energies our engineers pioneered a rigless through-tubing intervention technique that restored shut-in wells at 65% lower cost and 32% faster than conventional methods. This innovation, born of a necessity to do more with less, unlocked significant value and added millions of cubic feet of gas to the domestic market.

Ultimately, the most vital lesson is this: our social license is as important as our legal license. The community is not a hurdle to overcome; they are the most crucial stakeholder we must engage with for sustainable operations. If they are not active partners in our success, we have no durable foundation to build upon. For the Nigerian independent, success is a blend of operational innovation, genuine partnership, strategic security and tenacity. 

This is the first of a two-part interview 

Libya's Arabian Gulf Oil Company has collaborated with TAY Oil Services and Polaris to initiate a survey onshore Concession 57 with the deployment of Stryde's onshore nodal seismic solutions 

High-quality seismic data is important to unlock Libya's vast resource potential, as the country reopens to investors for exploration and development prospects. This can be achieved with Stryde's semi-automated, containerised system, featuring 40,000 seismic nodes, which promise shortest possible turn-over. A single operator can rotate 13,000 nodes within 24 hours by using the containerised system. These nodes can reach exceptional depths, eliminating surface interference for best possible coupling to achieve optimal data quality. The survey operations can be conducted flawlessly without disrupting production activities or the surrounding environment. The streamlining makes large-scale, high-density seismic surveys more efficient and cost-effective.

Abdellatif Hakkoumi, Polaris regional manager, said, “To meet the rising demand for high-resolution seismic imaging across expansive areas of Libya, we required an innovative nodal system capable of supporting a high channel count, without the logistical and financial constraints of conventional systems.

"With the quick delivery of Stryde’s fully autonomous nodes and semi-automated containerised seismic system, we have rapidly transitioned into a new era of land seismic acquisition.

"This advanced technology enables us to dramatically increase trace density per square kilometre. As a result, our customers benefit from improved subsurface imaging, reduced geological uncertainty, optimized well placement, and lower drilling risks, ultimately increasing exploration success rates.”

Stryde’s Containerised Seismic System, housed within a 20ft shipping container, seamlessly integrates all essential hardware for semi-automated node charging, harvesting, and on the fly generation of seismic data deliverables.

Mehdi Tascher, sales director at Stryde, said, “This purchase marks a significant milestone in the advancement of seismic exploration in Libya. With our state-of-the-art seismic system, TAY Oil-Polaris is set to carry out the largest nodal seismic acquisition project ever conducted in North Africa and will be able to meet fully Libyan onshore seismic growing demand.

“We are proud to supply TAY Oil-Polaris with the industry’s only fully integrated and semi-automated seismic system, enabling unprecedented operational efficiency while delivering high-resolution seismic data to their Libyan customers.”

“Libya’s complex geology, defined by thick carbonate sequences and rugged terrain, poses significant challenges for accurate subsurface imaging. To overcome these obstacles, high-density sensor deployment is essential for delivering superior structural and stratigraphic resolution. By harnessing STRYDE’s advanced nodal system, TAY Oil-Polaris is uniquely equipped to navigate these complexities.”

In a first divestment development for FrontRow Energy Technology Group, its subsidiary, WellSense, a rapid fibre-optic well diagnostics provider, has sold FiberLine Intervention licence to oilfield services company, Halliburton

The agreement terms secure a global licence for Halliburton to deploy WellSense FiberLine Intervention (Fli) technology for use in well stimulation monitoring.

A FrontRow Energy Technology Group company, WellSense, will continue to deploy the technology globally for all other oil and gas applications, including well plug and abandonment (P&A), well integrity and leak detection, as well as carbon capture, utilisation and storage (CCUS).

Annabel Green, CEO of WellSense, said, “The successful completion of this deal is a defining moment for WellSense and for our parent company, FrontRow Energy Technology Group. Not only is it a strong industry endorsement of our technology and the value it delivers, but also our business model of bringing new and innovative solutions to market.

“Our unique bare fibre dynamic despooling technology delivers superior data quality for a detailed subsurface understanding. Unlike other well monitoring techniques it provides a lightweight offline intervention solution with disposable probes for significant efficiency savings and reduced risk.

“Meeting the complex challenges of upstream oil and gas requires the adoption of technologies that fundamentally improve how the industry operates. This agreement is the result of a decade of focused innovation, collaboration and delivery and I would like to extend my sincere thanks to all our employees, past and present, whose dedication has built the strong foundation that made this success possible.”

Steve Kent, CEO of FrontRow, said,“This deal is a major milestone for FrontRow and is a clear example of how UK-born innovation can solve industry challenges and attract global attention.

“This is FrontRow’s first commercial licence sale and a landmark in our journey. It demonstrates that innovation, when nurtured with the right expertise and support, can deliver technical success as well as real commercial value.”

Driven by its African identity, Nigerian independent Heirs Energies operates with an in-house development approach, partnering largely with indigenous contractors

Following its inspiring success story with OML 17, the company is ready to take on further challenging projects, now eyeing the Republic of Congo. 

Heirs Energies CEO, Osa Ighiehon, reveals to Oil Review Africa what it takes to thrive as an African independent in today's energy industry and much more: 

What according to you does Nigeria’s oil and gas industry need right now to attain its full potential? 

Nigeria is at a critical moment. We possess the resources and the human capital to be a global energy leader, yet we are constrained by a few critical but addressable challenges. To unlock our full potential, we must act decisively on three fronts.

First, we must establish unwavering policy certainty. The lifeblood of our industry is investment, and capital flows to jurisdictions that offer predictability and stability. We need a clear, consistent, and transparent regulatory framework, one where fiscal term are stable and approvals are streamlined. Without this foundational trust, we risk ceding competitive advantage and watching investment capital migrate to more predictable markets. There has been a lot of progress on this front in the past few years with the Petroleum Industry Act (PIA) and Presidential Directives.

Secondly, we must secure our infrastructure and consolidate the gains we've made. The scourge of oil theft has been a direct drain on our national treasury. However, the solution that has been deployed needs to be sustained and the threat/vulnerabilities permanently mitigated. As demonstrated with OML 17, where we moved from a 3% terminal delivery to over 99%, it is possible to secure assets through a collaborative model that integrates community engagement, corporate strategy, and crucially, the strengthened security framework provided by the government. This proven model must now be scaled nationally to protect our vital revenue streams and restore investor confidence.

Lastly, and most critically, we must execute a strategic pivot to gas. While oil built our economy, gas is the undeniable key to our future. Sitting on the largest proven gas reserves in Africa, it is an economic paradox that we remain dependent on imported fuels. Gas is the catalyst that will power our industries, generate stable electricity, and drive sustainable economic diversification. At Heirs Energies, we have moved from rhetoric to action, increasing our gas production from 70 mn standard cu/ft to 125 mn standard cu/ft. This is not merely a business decision; it is a national imperative. By prioritising gas, we can finally unlock a new era of industrialisation and long-term prosperity for Nigeria.

While digitalisation is largely being considered the key to production optimisation, do you believe it’s the sole requisite to success? 

Digital tools are important, but they are not a magic fix. Technology helps us work smarter, but it can't replace the need for strong leadership and skilled people.

We use technology at Heirs Energies for monitoring and efficiency. But our biggest breakthroughs have come from our teams. For example, our engineers developed a low-cost way to bring old gas wells back to life. That idea didn't come from a software programme; it came from deep understanding, out-of-the-box thinking and a solution mindset.

While digitalisation gives us better data, our success finally depends on our people - their expertise, ingenuity and commitment to safety. Its this human element that truly makes the most difference.

What is Heirs Energies’ future strategy with OML 17 and other oil and gas assets? 

Our strategy is to build on the proof point that OML 17 represents. When we acquired it, many doubted whether a Nigerian independent could revive such a complex, underperforming asset. Today, we have doubled production, restored security, and brought new energy to the domestic gas market. That success gives us the confidence to look ahead with intent.

At OML 17, we are determined to keep pushing performance higher - optimising oil output, scaling gas production further, and embedding the community partnerships that have become a hallmark of our approach. But the bigger picture goes beyond one asset, we see opportunities across Nigeria and Africa to apply our Brownfield Excellence model - identifying underperforming fields, deploying innovation and discipline, and turning them into engines of growth.

What matters to us is creating long-term value for our investors, for the communities where we operate, and for the economies that depend on reliable energy. That means expanding carefully, investing responsibly, and ensuring that every molecule we produce helps to power Africa’s development. OML 17 was the beginning - but our ambition is to shape the model of how African companies can deliver world-class results and shared prosperity, consistently and at scale. 

This is the second of a two-part interview 

Major refining projects  are set to transform Africa’s energy landscape and boost self-suffciency

Africa is set to add 1.2mn barrels per day (bpd) of new refining capacity by 2030, representing one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook.

At the forefront of Africa’s refining expansion is Nigeria’s 650,000-bpd Dangote Refinery, which began operations in 2024 and is already reshaping regional fuel trade dynamics. Further developments include the 200,000-bpd Akwa Ibom Refinery, also in Nigeria, and Angola’s state-driven push to bring online the 200,000-bpd Lobito Refinery and 100,000-bpd Soyo Refinery by 2030.

Uganda’s refining ambitions are taking shape with a 60,000-bpd facility in Hoima, part of the country’s broader Lake Albert basin development plan, while modular refinery projects in Ghana, Guinea-Conakry, the Republic of Congo and additional sites in Nigeria are buiding capacity in markets where infrastructure and financing hurdles persist. In North Africa, Algeria (Hassi Messaoud), Libya (Ubari) and Egypt (Soukhna) are all advancing refinery projects aimed at capturing higher margins, improving domestic supply security and reducing dependency on imports of refined petroleum products.

According to OPEC, Africa will need over US$40bn in refining investments by 2030 to meet its mid-decade objectives, and beyond that, an additional US$60+ billion for refinery construction, modernisation and secondary processing capacity upgrades. This opens a US$100 billion investment opportunity for project developers, institutional investors, sovereign wealth funds and energy-focused private equity.

Africa’s rising domestic consumption of crude – forecast to reach 4.5 million bpd by 2050 from just 1.8 million bpd in 2024 – further underlines the need for investing in downstream infrastructure.
If the continent seizes this momentum, it can move beyond being a raw crude exporter to becoming a competitive, resilient and integrated energy producer.

The 2025 edition of African Energy Week (AEW): Invest in African Energies in Cape Town will provide a platform for governments, operators and financiers to align on next-phase refinery projects, policy incentives and deal pipelines, as countries seek to reduce costly imports and capture more value from domestic crude,

Ovation Data, a global leader in data management and digital transformation, has announced its expansion into Africa, joining forces with the ETK Group

The partnership aims to tackle mounting concerns in global energy markets about the risks tied to non-digitised legacy data, particularly in African energy sectors.

The company’s latest industry survey, presented at IMAGE 2025 in Houston, highlights widespread concern about the preservation of legacy geological and geophysical data. The survey, which included significant input from African operators, regulators, and technical professionals, reveals a substantial gap in data readiness across the energy sector. In particular, it points to the growing challenge of non-digitised data in countries rich in exploration potential, like many across Africa.

“Effective data management means more than digitising archives,” said Gregory Servos, executive chairman of Ovation Data. “It involves collaborating closely with operators, regulators, and technical teams to recover historical data, capture its context, and respect the social and cultural dynamics unique to each market.” As energy projects focused on Carbon Capture and Storage (CCS), Liquefied Natural Gas (LNG), and the broader energy transition gain momentum, Ovation believes that securing data readiness will be critical for supporting operational efficiency and securing investments.

The survey’s results paint a concerning picture: 82% of respondents expressed fears about the permanent loss of legacy geological and geophysical data, while 50% highlighted project delays and incomplete data as serious concerns. Additionally, 61% of respondents feel that digitisation and data structuring aren’t receiving adequate investment or attention, and 12% remain unaware of the risks associated with holding non-digitised data.

The study also underscores a significant concern about losing undocumented knowledge as senior professionals retire or move on. “In Africa, this challenge extends beyond data trapped in obsolete formats,” Servos adds. “It’s also about preserving decades of technical insight, decision-making, and cultural context that will otherwise be lost when experienced professionals retire.”

ETK Group, with its deep understanding of African energy markets, will play a pivotal role in helping Ovation navigate the continent’s diverse and evolving landscape. Bolaji Sofoluwe MBE, managing director of ETK Group, said, “Africa’s energy sector offers immense potential, and data-driven solutions will be key to unlocking efficiency, regulatory compliance, and long-term sustainability.”

The findings of Ovation's survey serve as a wake-up call not only for Africa but for the global energy sector. As projects ranging from carbon storage to LNG development and renewable energy integration become more data-intensive, it’s evident that decades of seismic and well data must be preserved, accessible, and trusted.

Trudy Curtis, CEO of the PPDM Association, emphasises the importance of long-term stewardship in maintaining the value of energy data. “Without deliberate, intentional and sustained stewardship, these valuable assets are at risk of being lost, degraded, or rendered unusable,” she states.