Niger Delta OML 17 Oil Production Reaches 50,000 Barrels Daily

Tony Elumelu's Heirs Energies manages major crude assets in the Niger Delta and builds multi-million pound voting stakes in Seplat Energy Plc.

Heirs Energies Limited delivers 50,000 barrels of crude oil every day from its Oil Mining Lease (OML) 17 asset in the Niger Delta region.

Heirs Energies operates OML 17 as an independent oil company, producing 50,000 barrels of crude oil daily alongside 120 million cubic feet of natural gas.

The asset holds proven oil reserves exceeding 1.5 billion barrels, giving it long-term capacity for energy output in the region.

The company's gas output directly powers thermal power stations in the country, providing the fuel needed to generate over 400 megawatts of electricity.

How large the OML 17 reserves are

Oil Mining Lease 17 contains a total reserve base of over 1.5 billion barrels of crude oil and 2.5 trillion cubic feet of natural gas.

Heirs Energies manages these extraction operations directly in the Niger Delta while building upstream partnerships across the local industry.

The oil asset provides steady raw crude supplies while expanding domestic gas feeds into the national power grid.

Tony Elumelu controls Heirs Energies Limited, which holds direct operational control over OML 17 alongside major equity stakes in partner firm Seplat Energy Plc.

Seplat Energy operates separate oil and gas exploration, production, and processing facilities focused across the Niger Delta.

Heirs Energies Limited currently holds 27,943,867 shares (4.67 per cent) in Seplat Energy, while Mr Elumelu's entities control a combined 126,400,000 shares.

This combined holding grants Mr Elumelu's companies a 21.07 per cent total voting interest out of Seplat Energy's 599,944,561 issued shares.

Recent asset and share acquisitions

Heirs Energies added 6 million ordinary shares in Seplat Energy on Thursday in a deal worth £53.2 million, priced at £8.87 per share.

The company previously bought a 20.07 per cent equity stake (120.4 million shares) in Seplat Energy from French firm Maurel & Prom S.A. for $500 million.

Seplat Energy trades publicly on both the Nigerian Exchange (NGX) and the London Stock Exchange Main Market.

Legal Director Edith Onwuchekwa confirmed the new share acquisition details through an official regulatory filing released by Seplat Energy on Thursday.