Latest Development
The $750m Afreximbank financing for OML 17 growth is in execution. Heirs Energies also holds its 20.07% stake in Seplat Energy — update the body to note that this position makes Heirs Energies one of Nigeria’s most significant private oil sector players heading into H2 2026.
Company Profile
Company TypePublic
HeadquartersLagos, Nigeria
Countries of OperationNigeria, Cameroon, Indonesia
Founded2009
Websitehttps://www.seplatenergy.com/
Parent CompanySeplat Energy Plc
SubsidiariesSeplat Energy Producing Nigeria Unlimited, Seplat Energy Producing Nigeria Limited, and other subsidiaries
Key ExecutivesRoger Brown — Chief Executive Officer; Tony Elumelu — Non-Executive Director
EmployeesNot specified in the acquisition announcement
Key Developments
Heirs Energies Limited acquired Maurel & Prom's entire 20.07% shareholding in Seplat Energy Plc, comprising approximately 120.4 million ordinary shares, in a transaction valued at approximately US$500 million. The acquisition gives Heirs Energies a significant strategic equity position in one of Nigeria's leading independent energy companies.
In May 2026, Seplat shareholders approved Tony Elumelu's appointment as a Non-Executive Director, strengthening the governance connection between Heirs and Seplat.
Key Risks
Oil-price volatility, regulatory and fiscal changes, operational and production risks, security and community-related risks in the Niger Delta, integration of strategic shareholder interests, and risks associated with Seplat's broader upstream portfolio.
What Happens Next
Heirs Energies and Seplat Energy are expected to operate with Heirs as a major strategic shareholder, while Seplat continues developing its upstream portfolio and production assets.
Commercial Opportunity
The transaction increases Heirs' strategic exposure to Seplat's upstream portfolio and may create opportunities across oil and gas field development, engineering, oilfield services, production infrastructure, gas processing, logistics and technical services
Procurement & Contract Outlook
Procurement / Contract OpportunityPotential opportunities may arise from Seplat's ongoing upstream development, production optimisation, infrastructure and field-development programmes. No specific procurement opportunity should be recorded against this acquisition unless independently verified.
Expected Next MilestoneFurther strategic integration of Heirs' investment in Seplat and continued development of Seplat's Nigerian upstream assets. (2026 onward)
Commercial Opportunity Intelligence
Financing / Capital OpportunityThe acquisition itself represents approximately US$500 million of strategic capital deployment by Heirs Energies. Future capital requirements associated with Seplat's development portfolio could create additional financing and investment opportunities.
Potential BeneficiariesOilfield services, drilling and completion, engineering, EPC, production equipment, energy technology, gas infrastructure, logistics, financial advisory, project finance and other upstream oil and gas services.
Opportunity SignalStrong
Commercial ReadinessCommercially Active
Further Reading & External Sources
Historical Intelligence
18 December 2025 — Acquisition Announced:
Heirs Energies announced an agreement to acquire Maurel & Prom’s entire 20.07% stake in Seplat Energy for approximately US$500 million.
December 2025 — Transaction Completion:
The acquisition was completed, giving Heirs Energies a significant strategic equity position in Seplat Energy.
May 2026 — Board Appointment:
Seplat Energy shareholders approved Tony Elumelu’s appointment as a Non-Executive Director, strengthening his direct governance connection to the company.
2026 onward — Strategic Ownership:
Heirs Energies remains a major shareholder in Seplat Energy, with the investment creating continued exposure to Seplat’s upstream oil and gas portfolio and future development activity.
Analyst Notes
The transaction was announced in December 2025 following Maurel & Prom's decision to sell its 20.07% interest in Seplat Energy. The acquisition represents a significant consolidation of indigenous Nigerian energy ownership and increases Heirs Energies' exposure to Seplat's producing and development assets. Tony Elumelu's subsequent appointment as a Non-Executive Director of Seplat in 2026 provides an additional governance link between the investor and the company.
Source & Verification Trail
Last Verified9 August 2026
Source(s)Heirs Energies; Seplat Energy Plc; TheCable
Source Date18 December 2025 / May 2026