Nigerian oil producer Heirs Energies has unveiled an ambitious plan to double its crude oil output to 110,000 barrels per day by 2030.
Chief Executive Officer Osa Igiehon disclosed the growth target in an interview in Windhoek, Namibia, noting that the company has already significantly increased production from its flagship asset — Oil Mining Lease 17 (OML 17) — acquired from Shell Plc in 2021.
Output from the asset has risen to as much as 55,000 barrels per day, up from around 27,000 barrels per day at the time of purchase.
“We plan to almost double output again in the next five years through additional drilling and upgrades,” Igiehon said. “At the same time, we’re looking at growing the business in Nigeria and also growing in Africa. I think we would typically enter a play with a mature asset and then grow more upstream.”
The company’s growth trajectory reflects the broader shift in Nigeria’s oil industry, where smaller independent producers are taking on a greater role as international oil companies exit certain onshore and shallow-water assets.
By leveraging local expertise and operational flexibility, these independents are increasing production efficiency and reinvesting in acquired fields.
Industry analysts highlight that Heirs Energies’ strategy aligns with Nigeria’s goal of sustaining crude output while maximising local participation in the sector.
According to Welligence Energy Analytics, independents are expected to manage an increasing share of Nigeria’s oil production in the coming years.
Igiehon noted that the company’s expansion drive will be “opportunity-led,” with potential ventures in other African markets. The approach would likely start with the acquisition of mature assets, followed by targeted investment to boost upstream output.
The planned increase in production capacity comes amid a volatile global oil market and ongoing operational challenges in Nigeria’s energy sector, including security risks in the Niger Delta and the need for infrastructure upgrades.
Heirs Energies believes that by investing in drilling, technology, and asset optimisation, it can sustain growth while contributing to the country’s energy security and export revenues.
If achieved, the 110,000 barrels per day target would position Heirs Energies among the leading indigenous producers in West Africa, strengthening its competitive edge regionally and enhancing its capacity to participate in cross-border energy projects.
