Lagos, Nigeria – Heirs Energies Limited has earned global recognition after its landmark US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named Best Oil & Gas Deal of the Year at the prestigious EMEA Finance Project Finance Awards 2026.
The award was presented in London on June 3, 2026, in recognition of one of the largest financing transactions ever secured by an indigenous African energy company.
According to the company, the award highlights the growing ability of African-led institutions and businesses to mobilise significant capital for strategic investments that strengthen energy security and drive economic development across the continent.
The US$750 million facility, arranged in partnership with the African Export-Import Bank (Afreximbank), is designed to accelerate field development, optimise production and support Heirs Energies’ long-term growth strategy while maintaining prudent capital management.
Chairman of Heirs Energies, Tony O. Elumelu, has consistently advocated for greater African ownership and financing of the continent’s natural resources, a vision reflected in the successful execution of the transaction.
Commenting on the award, the Chief Executive Officer of Heirs Energies, Osa Igiehon, said the recognition reflects the confidence that both African and international financial institutions have in the company’s strategy and long-term vision.
“This recognition reflects the confidence that African and international financial institutions continue to place in Heirs Energies, our strategy and our long-term vision,” Igiehon said.
“The transaction demonstrates that indigenous African energy companies can successfully structure and execute world-class financing solutions that support investment, growth and value creation. We are proud to receive this award and grateful to our financing partners, advisers and stakeholders whose support made it possible.”
Also speaking, Executive Vice President, Global Trade Bank at Afreximbank, Haytham ElMaayergi, described the recognition as a testament to the importance of innovative, Africa-focused financing solutions.
He noted that the transaction demonstrates how African financial institutions can effectively mobilise capital for strategic businesses with strong governance structures, quality assets and sustainable growth plans.
According to him, the deal will contribute significantly to advancing energy security, boosting production capacity and creating long-term value across Africa.
Executive Director and Chief Financial Officer of Heirs Energies, Samuel Nwanze, said the award validates the strength of the financing structure and the confidence reposed in the company by its financial partners.
“The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation and sustainable value creation,” Nwanze said.
Industry observers say the financing marks a significant milestone in Heirs Energies’ evolution from acquisition-led funding to a capital structure aligned with the long-term development of its reserves, further strengthening its position as one of Africa’s leading indigenous energy producers.
The EMEA Finance Project Finance Awards celebrate excellence, innovation and impact in project and structured finance across Europe, the Middle East and Africa.