DGAP-News: Heirs Oil & Gas / Key word(s): Personnel
Heirs Oil & Gas Announces CEO and Board Appointments
07.05.2021 / 18:20
Heirs Oil & Gas Announces CEO and Board Appointments
- Welcomes former senior Shell executive, Osayande Igiehon, as CEO
Lagos, 04/05/2021 - 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 se
ADVERTISEMENT
Heirs Oil & Gas, a 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.
Advertisement
In January, Heirs Holdings, in partnership with Transnational Corporation of Nigeria Plc, announced the unconditional
The acquisition included all assets of the previous owners Shell Petroleum Development Company of Nigeria Ltd (SPDC) (30 per cent), Total E&P Nigeria Ltd (10 per cent) and ENI (five per cent) in the lease.
Elumelu serves as chairman of UBA, Transcorp and Heirs Holdings.
Advertisement
In an interview on Arise TV on Wednesday, Elumelu said UBA did not participate in the acquisition of OML 17.
He said the fund was obtained from other international and local lenders including African Export-Import Bank (Afreximbank), Absa in South Africa, Fidelity Bank and Union Bank.
Vanguard News
Transcorp pushes investment in power sector, others
On
By Prince Okafor
Diversified conglomerate, Transnational Corporation of Nigeria Plc, Transcorp, has stepped up its presence in the nation’s power and petroleum sectors.
Speaking at the 15th Annual General Meeting (AGM) in Abuja, the shareholders, while commending the company for declaring dividends despite the negative impact of the Covid-19 pandemic, noted the significant advances in the Group’s integrated energy strategy, with the acquisition of Afam Power Plant Plc and Afam III Fast Power Limited.
The Chairman of Transcorp, Mr Tony Elumelu, thanked the shareholders for their continued support and promised that the Group will continue to execute its expansion, in line with its mission of “Improving Lives and Transforming Nigeria”.
Stock investors gained N420bn in April – Reports punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.