Heirs Oil & Gas (HHOG) has announced the appointment of Osayande Igiehon as chief executive officer (CEO), effective May 4, 2021.
In a statement by the company, Igiehon 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.
Prior to joining the energy firm, he served as vice-president of Royal Dutch Shell in Hague, Netherlands and also as chairman and CEO of Shell Garbon.
Commenting on his appointment, Igiehon said: “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”.
Heirs Oil & Gas also appointed Tony Elumelu, Sally Udoma, Anil Dua, Ahmadu Kida Musa, Stanley Lawson, and Samuel Nwanze to its board as non-executive directors.
Elumelu, who serves as chairman of the board, 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”.
On January 15, 2021, Heirs purchased 45 percent participating interest in oil mining licence (OML) 17 through TNOG Oil and Gas Limited, a related company of Heirs Holdings and Transcorp, in a deal worth $1.1 billion.
Also, Transcorp closed the $300 million acquisition of Afam Power in November 2020, thereby increasing installed electricity generating capacity to 2,000 megawatts (MW).