Deal: Heirs Holdings Acquires “Significant” Stake In Seadrill Mobil Units Ltd

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Tony O Elumelu’s pan-African investment vehicle, Heirs Holdings, today announced a substantial investment in Seadrill Mobil Units (Nigeria) Limited, an affiliate of one of the world’s leading offshore deepwater drilling companies, Seadrill. Elumelu has been appointed as chairman of the Board of Seadrill Mobil Units.

As a result, the Chairman of Heirs Holdings, Mr. Tony Elumelu, according to a statement on Thursday, has been appointed as chairman of the board of Seadrill Mobil Units. Elumelu was quoted to have said,

“Seadrill is a significant player in the oil and gas space, with a strong track record and one of the most respected names in the industry. The partnership makes strong commercial sense, bringing together a major global player and a leading African participant in the oil and gas industry.

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“Successful development of Nigeria’s deep water oil and gas fields is of strategic importance to our country. This is an important part of our own approach of creating synergistic added value investment across the energy sector, from extraction to processing, and perhaps most importantly for Nigeria, industrial production and power generation.”

Source: Punch