Heirs Energy Clinches $750m Afreximbank Funding, Sets Sights on 100,000 bpd Oil Production

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Nigeria’s indigenous energy company, Heirs Energy, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank) to significantly scale up its oil and gas operations.

The funding is expected to drive a major increase in production, with crude oil output projected to rise to about 100,000 barrels per day, while gas production is estimated to hit approximately 250 million cubic metres.

The facility will be deployed to support field development, expand production infrastructure and enhance operational efficiency across the company’s assets. Analysts say the deal reflects growing investor confidence in Nigerian-owned energy firms and their role in boosting national output.

The development comes as Nigeria intensifies efforts to increase crude oil production, expand gas utilisation and strengthen energy security. Increased output is also expected to contribute to higher foreign exchange earnings and improved sector stability.

Heirs Energy, an upstream subsidiary of Heirs Holdings, has continued to strengthen its footprint in Nigeria’s energy sector, positioning itself as a key player in indigenous oil and gas development with a strong focus on gas-led growth and sustainable operations.