Heirs Energies: Powering Nigeria’s Economy with Domestic Gas Supply

   Sole Gas Supplier to GeometricPower Plant

LAGOS, 07/03/2024 – Heirs Energies, Africa’s leading integrated energy company, hasannounced a further expansion of its gassupply business, supplying the recently commissioned 188 MW power plant operated by Geometric Power Limited, located in Aba,Abia State.

Heirs Energies is a leading provider of gas to the Nigerian National Grid, and already supplies TransAfam Power Limited, with a capacity of 966MW, and First Independent Power Limited (FIPL), with a capacity of541MW. Heirs Energies also supplies gas tolocal distribution companies, gas-basedindustries, and other industrial customers.

Founded in 2021, Heirs Energies operatesOML17 and related infrastructure, with a mission to ensuring that Nigerian businesses and consumers derive direct and ongoing benefit from the country’s natural resources.All gas produced from OML 17 is supplied tothe domestic gas industry.

Heirs Energies is pioneering a new era in Nigeria’s energy sector. With the operation ofOML17 and its associated assets, the companyhas been pivotal in ensuring a reliable and sustainable gas supply, directly contributing tothe nation’s industrial and economic growth.Heirs

Energies’ gas supplies to these critical powerplants not only reinforce its major role inNigeria’s energy sector, but also underscore itsstrategic vision in developing operational synergies throughout the energy value chain.

Creating a Nigerian champion in domestic gas supply represents a further example of Heirs Holdings role as a long-term strategic investor in the Nigerian energy sector, with interests inthe recently listed Transcorp Power Limited, TransAfam, and Abuja Electricity Distribution Plc, and as an operator of oil-producing assets more than 50,000 barrels of oil equivalent per day (boe/d). With a unique vision of ensuring Africa’s natural resources serve Africa’s interests, the Heirs Group is driven by founder Tony Elumelu’s Africapitalism philosophy of ensuring businesses deliver both economic andsocial benefits to stakeholders.

Osa Igiehon, CEO of Heirs Energies, praisedthe company’s growing impact: “Our ability tosupply these three major power plantsdemonstrates Heirs Energies’ dedication to lighting up Nigeria and supporting ourcountry’s journey towards economic and socialprosperity.   We are not just participants inthe energy sector; we are facilitators ofgrowth and development, driven by a missionto ensure that Nigeria’s natural resourcesbenefit its people.”

Heirs Energies’ gas plant in Agbada, Rivers State, produces over 80 MMSCFD (million standard cubic feet per day) of gas. 100 percent of this gas output is channelled into the domestic market to meet local demands, supporting Nigeria’s energy needs and exemplifying Heirs Energies’ commitment to powering thousands of homes, schools,hospitals, and industries, reinforcing its role in catalysing Nigeria’s industrialisation.

Heirs Energies Limited (formerly HeirsHoldings Oil & Gas Limited) is Africa’s largest indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs whilst aligning with global sustainability goals. With a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads theevolving energy landscape and contributes toa more prosperous Africa.

For more information about Heirs Energies andour projects, please visitwww.heirsenergies.com.