Leading African integrated energy company, Heirs Oil & Gas has announced the appointment of Osayande Igiehon as its new Chief Executive Officer. The appointment takes effect from May 4, 2021.
Igiehon was previously the Vice-President of Royal Dutch Shell in the Hague, Netherlands bringing with him over twenty-seven years of experience in the oil and gas sector with Shell where he has held a series of senior management roles. He was also previously the Chairman and Chief Executive Officer of Shell Gabon where he led the successful turnaround of the company.
Heirs Holding’s portfolio company, HHOG recently completed the acquisition of OML 17 in January 2021 in what is seen as one of the largest oil and gas financings in Africa in more than a decade with a financing component of US$1.1 billion and thus places the company as a leading energy business in Africa
Just recently, Transcorp, a sister company to Heirs made a US$300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.
Commenting, Mr. Igiehon said, “HHOG represents an extraordinary opportunity, to create Africa’s first true integrated energy company, with a mission to ensure that Africa’s natural resources are directed toward value creation in Africa, powered by sustainable, robust and abundant African energy. I am excited to join the Heirs Oil and Gas leadership team and look forward to the opportunity to transform the energy sector, purposefully address Africa’s energy needs and improve the lives of people across Africa.”
The Chairman of the Board, Tony O. Elumelu, CON, stated: “I am delighted to welcome our new board members. We are building a role model institution for African businesses and our investment in human capital is a further strong demonstration of our intent. The regional and global expertise of our board members will serve to further drive value creation to our continent, as we execute our goal of becoming Africa’s largest, indigenous, integrated, energy company.”