Heirs Energies Limited's $750 million reserve-based lending facility has been named the Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026. The award was presented in London, recognizing the dual-tranche Senior Secured Reserve-Based Lending (RBL) facility arranged for the indigenous energy company in partnership with the African Export-Import Bank (Afreximbank).
According to the company, the financing is among the largest secured by an indigenous African energy firm and is expected to support field development, production optimization, and other growth projects. Chief Executive Officer of Heirs Energies, Osa Igiehon, said the recognition reflected continued confidence from African and international financial institutions in the company's strategy and long-term plans. He added that the transaction demonstrated the capacity of indigenous African energy companies to structure and execute large-scale financing arrangements to support investment and growth.
Executive Vice President, Global Trade Bank, Afreximbank, Haytham ElMaayergi, described the award as recognition of the role of Africa-focused financing in supporting indigenous energy companies with growth potential and strategic assets. He noted that the transaction highlighted the ability of African financial institutions to mobilize capital for businesses operating in critical sectors of the economy.
Also commenting, Executive Director and Chief Financial Officer of Heirs Energies, Samuel Nwanze, said the facility was designed to support the company's long-term growth strategy through investments in field development and production enhancement. The company stated that the financing marks a transition from acquisition-led funding toward a capital structure aligned with the long-term development of its reserves.
The EMEA Finance Project Finance Awards recognize transactions across Europe, the Middle East, and Africa for achievements in project and structured finance. Heirs Energies is the operator of OML 17. The company said it has increased oil production to more than 50,000 barrels per day and gas production to over 135 million standard cubic feet per day since assuming operatorship of the asset in 2021. Afreximbank, a pan-African multilateral financial institution headquartered in Cairo, Egypt, focuses on financing and promoting trade across Africa and beyond.
