KEY POINTS
- Heirs Energies plans to expand operations to the Republic of the Congo.
- The company focuses on boosting production from mature oil fields.
- Its Africapitalism model promotes indigenous participation in energy.
Nigerian oil company, Heirs Energies, is preparing to extend its footprint beyond Nigeria’s borders, with the Republic of the Congo emerging as its next major target for investment. The company’s expansion ambition aligns with its broader strategy to build an African-led energy enterprise anchored on operational efficiency, indigenous participation, and sustainable growth.
Heirs Energies Congo expansion plans
Speaking at the African Energy Week (AEW): Invest in African Energies 2025 conference in Cape Town, Executive Director and Chief Financial Officer Samuel Nwanze said the company is eyeing opportunities to replicate its success in Nigeria’s Niger Delta elsewhere on the continent. “Yes, we are interested in expanding our business model in Nigeria and other African countries, and Congo is on the map,” he said.
Heirs Energies currently operates OML 17, one of Nigeria’s key oil blocks, which it acquired in 2021. The company has since focused on revitalising the asset through operational excellence rather than expansion through acquisitions. Nwanze said the company’s growth story is grounded in maximising existing potential. “We have not drilled new wells or taken on new assets. We have managed to rework existing assets to extend the life of mature fields,” he explained.
Driving Africapitalism through Heirs Energies Congo expansion
Nwanze outlined Heirs Energies’ operational philosophy as one built on maximising the output of mature oil fields across its portfolio. He said the company focuses on maintaining consistently high production efficiency to sustain long-term field performance and profitability.
He noted that every piece of equipment and well is assessed to determine whether it is delivering at full capacity, emphasising his disciplined and data-driven management culture focused on continuous improvement and accountability.
Beyond technical performance, the company positions itself as a leading example of Africapitalism within Africa’s evolving energy industry.
Africapitalism, championed by Heirs Energies’ founder Tony Elumelu, promotes sustainable economic growth led by African entrepreneurs and investors.
“Heirs Energies is 100 percent indigenous, a truly African brand, and 95 percent of our contractors are local,” Nwanze said.
He added that the company’s operations reflect a deliberate strategy to empower local talent, retain value within the continent, and build resilience in Africa’s energy industry. “Having control over our resources, including oil and gas, allows us to drive meaningful impact,” he said.
Nwanze noted that all gas produced by Heirs Energies is channelled into Nigeria’s domestic market to support industry. The decision highlights the company’s role in addressing Nigeria’s energy needs and boosting national industrial power generation capacity.
It also positions Heirs Energies as a regional player capable of exporting expertise rather than crude oil barrels.
Heirs Energies’ planned Congo expansion signals a deepening of its ambition to evolve into a pan-African energy company. By replicating its OML 17 model of re-engineering mature fields, the company is betting that Africa’s untapped reserves can be harnessed sustainably and profitably under indigenous leadership
