Heirs Oil & Gas (HHOG) has announced the appointment of Osayande Igiehon as chief executive officer, effective May 4, 2021, together with a distinguished non-executive board, bringing together leading industry figures, with considerable global and regional experience.
Heirs Holdings Limited’s (HH) portfolio company, HHOG, completed the acquisition of OML17 in January 2021, in one of the largest oil and gas financings in Africa in more than a decade, with a financing component of $1.1 billion. The transaction represents a further implementation of the HH Group strategy of creating the leading integrated energy business in Africa.
Most recently, affiliate company Transcorp made a $300 million acquisition of Afam Power, increasing the Group’s installed electricity generating capacity to 2,000MW.
Mr. Igiehon joins from the Royal Dutch Shell (Shell), where he was previously vice-president with the Group in the Hague, Netherlands. He brings over 27 years of experience and expertise in the oil and gas sector with Shell, where he held a series of senior management positions.
He previously served as chairman and CEO of Shell Gabon where he led the successful turnaround of the operational, safety and financial performance.
HHOG also announced the appointment of the following distinguished private sector and senior industry leaders to the board: Tony Elumelu, Sally Udoma, Anil Dua, Ahmadu Kida Musa, Stanley Lawson, and Samuel Nwanze.
Commenting on his appointment, Igiehon stated: “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.”
Chairman of the board Mr. Elumelu said: “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.”