Heirs Energies to Double Oil Output to 110,000 Barrels Daily by 2030

By Adedapo Adesanya

Nigerian indigenous oil company, Heirs Energies, plans to double its crude oil output by 2030 as it looks to expand its operations across Africa.

In an interview in Windhoek, Namibia, the chief executive of the energy firm, Mr Osa Igiehon, disclosed that the organisation has boosted production to a high of 55,000 barrels a day from around 27,000 a day earlier in the last four years.

Mr Igiehon headlined a session titled The Making of an African Independent’ on August 14, sharing insights from Heirs Energies’ transformation of Nigeria’s Oil Mining Lease (OML) 17 into a top indigenous-operated oil asset.

The company has boosted production from OML 17, its most valued asset, that it purchased from Shell Plc in 2021.

Now, it is seeking to almost double output again through additional drilling and upgrades in the next five years.

According to the Heirs Energy CEO, African companies are not just participants in the global energy market, they are leaders and by combining African innovation with world-class execution, companies like Heirs Energy will continue to deliver transformational results.

Mr Igiehon was at the Namibia Oil & Gas Conference (NOGC) 2025 to share the blueprint for building world-class African energy companies. There, he had a fireside chat with Dr Clemens von Doderer of the Hanns Seidel Foundation Namibia, followed by a high-level panel discussion.

The conversation will tackle real challenges such as: how African independents compete with global majors, what it takes to build sustainable operations that deliver both profit and purpose, and why local expertise is the secret weapon for long-term success.

This comes at a time Namibia’s Orange Basin attracts billions in international investments, which Mr Igiehon says is an indicator that African companies can compete and scale.

Mr Igiehon said the Heir Energies’ focus on innovation, environmental stewardship, and community development is shaping a more resilient and prosperous African energy future, which embodies the Africapitalism philosophy of its Group Chairman, Tony Elumelu, the belief that African private enterprise is the key to the continent’s transformation.