The Heirs Holdings Group, owned by Tony Elumelu from Nigeria, has acquired 45% of the shares in the Nigerian oil license OML 17 from Shell Total and Eni, through its subsidiary TNOG Oil and Gas Limited.

This acquisition meets the Abuja government's ambition to create a national and African champion in this sector long in the hands of Western companies

OML 17 currently has a production capacity of the equivalent of 27,000 barrels/day, estimated 2P reserves of 1.2 billion barrels, and an additional 1 billion barrels of barrels in terms of exploration

“We have a clear vision: to create Africa's first integrated energy multinational, a quality global company focused solely on Africa and Africa's energy needs,” says Tony Elumelu