Africa

Heirs Oil & Gas announces the appointments of its CEO and Board of Directors

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Heirs Oil & Gas announces the appointments of its CEO and Board of Directors

Heirs Oil & Gas (HHOG) (www.HeirsOilandGas.com), the African leader in integrated energy, has announced the appointment of Osayande Igiehon as CEO, effective May 4, 2021, with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience.

Heirs Holdings Limited (HH) portfolio company HHOG completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa for more than a decade, with a financing component of US $ 1.1 billion. The transaction represents a further implementation of the HH Group’s strategy of creating the leading integrated energy company in Africa. Through a series of strategic portfolio holdings, HH is implementing this strategy. More recently, affiliate Transcorp acquired Afam Power for US $ 300 million, bringing the Group’s installed power generation capacity to 2,000 MW.

Mr. Igiehon, who is from Royal Dutch Shell (Shell), where he was previously Group Vice President in The Hague, The Netherlands. He brings over twenty-seven years of oil and gas industry experience and expertise to Shell, where he has held a series of senior management positions. Mr. Igiehon previously served as Chairman and CEO of Shell Gabon, where he successfully led the turnaround in operational, security and financial performance.

HHOG is also pleased to announce the appointment to the Board of Directors of the following distinguished private sector and industry leaders:

Commenting, Mr Igiehon said:

“HHOG represents an extraordinary opportunity, to create Africa’s first truly integrated energy company, with a mission to ensure that Africa’s natural resources are directed towards value creation in Africa, fueled by sustainable, robust African energy. and abundant. I am delighted to join the management team of Heirs Oil and Gas and look forward to seizing the opportunity to transform the energy sector, to target Africa’s energy needs and improve the lives of people across Africa.

Chairman of the Board Tony O. Elumelu, CON said, “I am delighted to welcome our new board members. We are building a model institution for African businesses and our investment in human capital is another strong demonstration of our intention. The regional and global expertise of our board members will serve to further drive value creation on our continent as we realize our goal of becoming Africa’s largest indigenous and integrated energy company.

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