Heirs Energies gets recognition for $750m oil deal

Heirs Energies Limited has earned international acclaim, securing the 'Best Oil & Gas Deal of the Year' award for its landmark $750 million dual-tranche senior secured reserve-based lending facility. The prestigious EMEA Finance Project Finance Awards 2026 recognized the deal, presented on June 3 in London, as a significant achievement for an indigenous African energy company.

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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 financing was structured in collaboration with the African Export-Import Bank (Afreximbank) to accelerate field development, optimize production, and support Heirs Energies' long-term growth strategy while maintaining disciplined capital management. This transaction underscores the vision of Chairman Tony Elumelu, demonstrating that African institutions and businesses can successfully mobilize capital to unlock the continent's resources, enhance energy security, and create lasting economic value.

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The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth, and value creation.

Osa Igiehon, Chief Executive Officer of Heirs Energies, expressed pride in the recognition, stating it reflects the confidence financial institutions place in the company's strategy and vision. He emphasized that indigenous African energy companies can structure and execute world-class financing solutions that foster 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," Igiehon said.

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We are truly honoured that the US$750m 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.

Haytham ElMaayergi, Executive Vice President of Global Trade Bank at Afreximbank, described the award as a testament to the importance of Africa-focused financing in supporting indigenous energy firms. He highlighted that the $750 million facility for Heirs Energies is a prime example of how well-structured financing can empower companies with strong governance and clear growth plans. "Afreximbank was proud to support this landmark transaction, which demonstrates how African financial institutions can help mobilize capital for strategic businesses that advance energy security, production capacity and sustainable value creation across the continent," ElMaayergi stated.

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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.