L-R: Nnamdi Azubuike, AVP, Corporate Finance & Commercial Operations, and Pascal Eva, VP, Finance, Heirs Energies, at the EMEA Finance Project Finance Awards 2026 in London, where the company’s landmark US$750 million financing transaction was recognised as Best Oil & Gas Deal of the Year.
Heirs Energies Limited has secured international recognition after its landmark US$750 million financing facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026.
The award, presented in London on June 3, highlights one of the largest financing transactions ever secured by an indigenous African energy company and underscores the growing role of African-led businesses in mobilising capital for energy development across the continent.
The award-winning transaction involved a dual-tranche Senior Secured Reserve-Based Lending (RBL) facility arranged in partnership with the African Export-Import Bank (Afreximbank). The financing was designed to accelerate field development activities, optimise production capacity, and support Heirs Energies’ long-term growth strategy while maintaining disciplined capital management.
Industry observers view the recognition as a significant milestone for Africa’s energy sector, demonstrating the increasing capacity of indigenous companies and African financial institutions to structure and execute complex, world-class financing arrangements.
According to Heirs Energies, the facility reflects the company’s broader ambition to strengthen energy security, expand production, and create sustainable economic value through strategic investment in upstream operations.
Commenting on the award, Heirs Energies Chief Executive Officer, Osa Igiehon, described the recognition as a reflection of continued confidence in the company’s vision and growth strategy.
“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.”
Afreximbank, which played a central role in the transaction, also welcomed the recognition.
Haytham ElMaayergi, Executive Vice President of Global Trade Bank at Afreximbank, said the award underscores the importance of innovative financing structures tailored to Africa’s development priorities.
“This recognition highlights the importance of well-structured, Africa-focused financing in supporting indigenous energy companies with strong governance, quality assets and clear long-term growth plans,” ElMaayergi said.
“Afreximbank was proud to support this landmark transaction, which demonstrates how African financial institutions can mobilise capital for strategic businesses that advance energy security, increase production capacity and create sustainable value across the continent.”
Samuel Nwanze, Executive Director and Chief Financial Officer of Heirs Energies, noted that the award validates both the strength of the transaction and the confidence shown by financing partners.
“The facility was designed to support our long-term growth strategy, enabling continued investment in field development, production optimisation and sustainable value creation. We are pleased to see the transaction recognised on such a respected global platform,” he said.
Beyond the award itself, the financing marks a significant step in Heirs Energies’ corporate evolution, transitioning from acquisition-led financing toward a capital structure aligned with the long-term development of its reserve assets.
The transaction further reinforces the company’s position among Africa’s leading indigenous energy producers while showcasing the growing ability of African institutions to finance large-scale, transformational businesses on the continent.
The EMEA Finance Project Finance Awards recognise outstanding transactions across Europe, the Middle East and Africa, celebrating excellence, innovation and impact in project and structured finance.
