Heirs Holdings, Tony Elumelu’s pan-African investment vehicle, has acquired significant stake in an affiliate of one of the world’s leading offshore deepwater drilling companies, Seadrill Mobil Units (Nigeria) Limited.

According to the statement, the investment is further evidence of Elumelu’s strategy of increasing Africa businesses to participate across the oil and gas production and exploration.

Elumelu, who has been appointed as Chairman of the board of Seadrill Mobil Units, said while commenting on the investment that the partnership sets the stage for greater development in the Nation’s energy sector.

Svend Anton Maier, Director, Seadrill Mobil Units (Nigeria) Limited, on the other hand stated that partnership with Heirs Holdings creates the right mix of global technical expertise, backed by operational excellence and sound financial management to the Nigerian market, adding that it positions the company as a local industry leader and a true indigenous player.

Meanwhile Seadrill as the world’s leading offshore driller, is said to be listed on both the New York and Oslo stock exchanges, and operates the second largest premium jack up fleet in the industry with 7,500 staff in 15 countries.

Heirs Holdings gas already made significant commitments to the oil exploration and production sector, through the acquisition of OPL 281, an onshore oil field with substantial gas reserves, by Transcorp and Tenoil’s development of OPL 2008, which is intended to enter production in 2014.