Heirs Energies Limited has earned international recognition after its landmark $750 million dual-tranche senior secured reserve-based lending facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.
The company disclosed in a statement on Sunday that the award was presented on June 3 in London, recognising one of the largest financing transactions secured by an indigenous African energy company.
According to Heirs Energies, the financing facility was executed in partnership with the African Export-Import Bank (Afreximbank) and was structured to accelerate field development, optimise production, and support the company’s long-term growth objectives while maintaining prudent capital management.
The company noted that the transaction reflects the vision of its Chairman, Tony Elumelu, that African institutions and African-led businesses can successfully mobilise capital to unlock the continent’s natural resources, strengthen energy security, and create sustainable economic value.
Commenting on the recognition, the Chief Executive Officer of Heirs Energies, Osa Igiehon, said the award highlights the confidence that both African and international financial institutions have in the company’s strategy and future prospects.
“This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy, and our long-term vision,” Igiehon said.
“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.”
Also speaking, the Executive Vice President of Global Trade Bank at Afreximbank, Haytham ElMaayergi, described the award as a testament to the importance of Africa-focused financing solutions in supporting indigenous energy companies.
“We are truly honoured that the US$750 million dual-tranche senior secured reserve-based lending facility for Heirs Energies has been recognised as the Best Oil & Gas Deal of the Year by the EMEA Finance Project Finance Awards,” he said.
ElMaayergi noted that the recognition underscores the role of well-structured financing in supporting energy companies with strong governance frameworks, quality assets, and clear long-term growth plans.
According to him, Afreximbank was proud to support the landmark transaction, which demonstrates how African financial institutions can mobilise capital for strategic businesses that enhance energy security, increase production capacity, and generate sustainable value across the continent.
The Executive Director and Chief Financial Officer of Heirs Energies, Samuel Nwanze, also welcomed the recognition, describing it as validation of the strength of the financing structure and the confidence shown by the company’s funding partners.
“The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation, and sustainable value creation. We are pleased to see the transaction recognised on such a respected global platform,” Nwanze said.
The company explained that the financing marks a significant milestone in its evolution from acquisition-led financing to a capital structure better aligned with the long-term development profile of its reserves.
It added that the transaction reinforces Heirs Energies’ position as one of Africa’s leading indigenous energy producers while demonstrating the capacity of African financial institutions to fund transformational African businesses.
The EMEA Finance Project Finance Awards celebrate outstanding transactions across Europe, the Middle East, and Africa, recognising excellence, innovation, and impact in project and structured finance.
Heirs Energies, the operator of OML 17, said it has achieved significant operational growth since assuming operatorship of the asset in 2021. According to the company, oil production has more than doubled to over 50,000 barrels per day, while gas production has tripled to more than 135 million standard cubic feet per day.
The company also stated that it currently contributes approximately five per cent of Nigeria’s oil production and five per cent of the country’s domestic gas supply, highlighting its growing role in supporting national energy output and energy security.
