Heirs Oil & Gas’ OML 17 Wins PFI Africa Deal of the Year

HHOG recognised by Project Finance International (PFI) for Africa’s Largest Oil and gas financing in more than a decade

Heirs Oil & Gas has won the Africa Deal of the Year 2021 by Project Finance International, following the $1.1bn financing and acquisition of a 45 per cent stake in OML 17 in 2021.

The award ceremony took place in London.

The deal, which was announced in January 2021, saw Heirs Holdings, the leading African strategic investor, in partnership with affiliated company Transnational Corporation, acquire a 45 per cent participating interest in Nigerian oil licence OML 17 and related assets from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI.

Acknowledging the award, Chief Executive Officer, Heirs Oil & Gas, Osayande Igiehon, said “This great recognition reiterates our commitment to excellence in our bid to fulfil Africa’s unique energy needs and ensure that Africa’s natural resources are directed toward value creation on the continent.”

The Executive Director of the company, Samuel Nwanze, while accepting the award on behalf of the HHOG team, thanked the PFI for the “great honour which recognises the OML 17 acquisition deal, while also acknowledging the efforts of the entire team involved in the transaction.”

The PFI awards is organised by Project Finance International (PFI), a leading source in global project finance reporting, covering all the major sectors, including transport, power, oil & gas, infrastructure and mining.

May 18, 2022