Heirs Energies Chief Executive Officer Osayande Igiehon has advised the Republic of Congo on its plan to ramp up crude production to 500,000 barrels per day.
Igiehon spoke on African energy leadership at the inaugural Congo Energy & Investment Forum held recently in Brazzaville.
Speaking on the themes ‘Energy & Investment Outlook’ and ’Field Development Drive: Towards 500,000 Barrels Per Day’, Igiehon shared practical strategies on how the Republic of Congo could accelerate its journey toward achieving its ambitious 500,000 barrels per day production target.
He said, “Within three months of acquiring OML 17 from the previous operator in 2021, we doubled production from 25,000 to over 50,000 barrels per day.
“Today, we consistently sustain this growth, aiming to surpass 100,000 barrels per day – something previously unachieved on this block. The same approaches can help Congo maximise production from its mature fields.”
He highlighted the company’s successful doubling of gas production to 80-100 million standard cubic feet per day, directly supporting Nigeria’s domestic power generation and industrial sectors.
He emphasised Heirs Energies’ Brownfield Excellence approach as a blueprint for rapid production growth that could be replicated across Congo’s mature energy assets to help reach the nation’s production goals.
The forum, organised by Energy Capital & Power in partnership with the Republic of Congo’s Ministry of Hydrocarbons, brought together government officials, industry leaders, and investors to discuss strategies for accelerating energy development across the continent.
Igiehon also underscored the importance of Africapitalism – the philosophy pioneered by Heirs Holdings Chairman Tony Elumelu – as a guiding principle for energy development that creates shared prosperity.
He said, “Driven by our chairman, Tony Elumelu’s philosophy of Africapitalism, we lead with private sector solutions that create shared prosperity and improve lives across Africa. This is the spirit of the Heirs Holdings Group.
“This approach is exemplified by the Tony Elumelu Foundation, which recently committed $15m to fund 3,000 entrepreneurs across all 52 African countries. Since launching with a $100 million commitment in 2015, the Foundation has now empowered over 24,000 entrepreneurs – more than double its initial target – catalysing job creation and economic development continent-wide.”