LAGOS, Nigeria, May 7, 2021/ -- Heirs Oil & Gas (HHOG) (www.HeirsOilandGas.com), the leading
African integrated energy company, 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 US$1.1 billion. The transaction represents a further implementation
of the HH Group strategy of creating the leading integrated energy
business in Africa. Through a series of strategic portfolio holdings, HH
is executing this strategy. Most recently, affiliate company, Transcorp
made a US$300 million acquisition of Afam Power, increasing the Group’s
installed electricity generating capacity to 2,000MW.
Mr.
Igiehon, who joins from the Royal Dutch Shell (Shell), where he was
previously a Vice-President with the Group in the Hague, Netherlands. He
brings over twenty-seven years of experience and expertise in the oil
and gas sector with Shell, where he held a series of senior management
positions. Mr. Igiehon previously served as Chairman and Chief Executive
Officer of Shell Gabon, where he led the successful turnaround of the
operational, safety and financial performance.
HHOG is also
pleased to announce the appointment of the following distinguished
private sector and senior industry leaders to the Board:
- Tony O. Elumelu, CON is
the Chairman of Heirs Holdings, the United Bank for Africa (UBA),
Transnational Corporation of Nigeria (Transcorp), and Founder of the
Tony Elumelu Foundation.
- Sally Udoma
who previously served as general counsel for Chevron Europe, Eurasia,
and the Middle East Exploration and Production. Previously, she was
general counsel for Sasol Chevron Consulting Limited and managing
counsel at the London Legal Service Centre for Chevron Global Upstream
and Gas. She has also served as general counsel and general manager for
Chevron Nigeria Limited.
- Anil Dua
is a founding partner at Gateway Partners Limited, a private equity
fund specialising in dynamic growth markets including Africa, the Middle
East and Asia. Prior to this, Mr. Dua worked for over thirty-five years
with Standard Chartered Bank in Asia, Africa, Europe and the US, where
he held various roles including Regional CEO West Africa and Regional
Head of Origination and Client Coverage, Africa.
- Ahmadu Kida Musa
who previously served as Deputy Managing Director of Total Exploration
and Production Nigeria Limited, has over thirty-two years of experience
in the Oil and Gas industry and brings considerable expertise in
Nigerian oil and gas.
- Stanley Lawson
currently serves on the board of Transnational Corporation of Nigeria
Plc. He is Managing Partner at Financial Advisory & Investment
Consultants Ltd. Dr Lawson previously occupied the position of Group
Executive Director-Finance & Accounts at Nigerian National Petroleum
Corp.
- Samuel Nwanze
is the Chief Finance Officer at Heirs Oil and Gas. Prior to this he was
the Chief Investment Officer at Heirs Holdings responsible for
investment and capital management.
Commenting, Mr. 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.”
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.”
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