Heirs Holdings, TNC Acquired Oil Field

Heirs holdings and transnational corporation of Nigeria Plc have announced the acquisition” of a 45 per cent participating interest in OML 17 through TNOG oil and gas limited, their associated company

The acquisition also includes all assets of the previous owners — shell petroleum development company of Nigeria Ltd (SPDC) (30 per cent), total E&P Nigeria ltd (10 per cent) and ENI (five per cent) — in the lease.

The field currently has a production capacity of 27,000 barrels of oil equivalent per day..

The transaction is reputed as one of the largest oil and gas financing in Africa in more than a decade.

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