Oredola Adeola
Heirs Energies Limited has earned global recognition after its US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026, underscoring the company’s growing influence in Africa’s energy sector.
The award was presented to the company on June 3, 2026, in London, recognising one of the largest financings secured by an indigenous African energy company.
The company noted that the transaction reflects the vision of its Chairman, Tony Elumelu, that African institutions and African-led businesses can mobilise capital to unlock the continent’s resources, strengthen energy security, and deliver long-term economic value.
The US$750 million facility, executed with the African Export-Import Bank (Afreximbank), is structured to accelerate field development, optimise production, and support the company’s long-term growth strategy while maintaining disciplined capital management.
Osa Igiehon, Chief Executive Officer of Heirs Energies, commenting on the recognition, said, “This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy, and our long-term vision.
The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation.
“We are proud to receive this award and grateful to our financing partners, advisers, and stakeholders whose support made it possible.”
Mr. Haytham ElMaayergi, Executive Vice President, Global Trade Bank at Afreximbank, said,“We are truly honoured that the US$750 million dual-tranche Senior Secured Reserve-Based Lending facility for Heirs Energies has been recognised as Best Oil & Gas Deal of the Year by the EMEA Finance Project Finance Awards.
“This recognition underscores the importance of well-structured, Africa-focused financing in supporting indigenous energy companies with strong governance, high-quality assets and clear long-term growth plans.
“Afreximbank was proud to support this landmark transaction, which demonstrates how African financial institutions can help mobilise capital for strategic businesses that advance energy security, production capacity and sustainable value creation across the continent.
“We congratulate Heirs Energies and all the partners involved in the transaction and are pleased to see this important financing recognised on such a respected international platform,” ElMaayerg said.
Samuel Nwanze, Executive Director and Chief Financial Officer of Heirs Energies, said, “This award validates the strength of the transaction and the confidence our financing partners placed in Heirs Energies.
“The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation, and sustainable value creation.
“The financing represented a major milestone in Heirs Energies’ evolution from acquisition-led financing to a capital structure aligned with the long-term development profile of its reserves.
“It further reinforced the Company’s position as a leading indigenous energy producer and demonstrated the ability of African institutions to finance transformational African businesses,” Nwanze noted.
Advisors Reports gathered that the EMEA Finance Project Finance Awards recognise outstanding transactions across Europe, the Middle East, and Africa, celebrating excellence, innovation, and impact in project and structured finance.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company and operator of OML 17.
Since assuming operatorship in 2021, the Company has more than doubled oil production to over 50,000 barrels per day and tripled gas production to over 135 million standard cubic feet per day.
Heirs Energies contributes approximately 5% of Nigeria’s oil production and 5% of domestic gas supply, helping to advance energy security, economic growth and sustainable development across Africa.
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade.
