Ingentia targets drilling expansion after 150% output rise

LAGOS, Nigeria — Ingentia Energies Limited plans to expand its drilling operations after increasing oil production by 150 per cent during the tenure of former acting Chief Executive Officer Charles Odita.

Kanyi Daily reports that Victor Agbaroji has assumed office as the company’s new Managing Director and Chief Executive Officer, succeeding Odita following a leadership transition announced by the board.

The company’s Chairman, Oseni Elamah, commended Odita’s tenure, stating that “production increased by 150 per cent during his tenure, from 2,200 barrels per day”.

Agbaroji said the company would build on the progress recorded under his predecessor, with priorities including stronger drilling operations, improved value from existing assets, lower costs, portfolio expansion and increased utilisation of its gas resources.

“Our immediate focus is to strengthen the next phase of our drilling campaign by leveraging the seismic acquisition programme currently underway.

This will enable us to execute a more robust and efficient drilling programme while improving exploration outcomes and operational performance,” Agbaroji said.

Agbaroji also identified crude oil evacuation infrastructure as a priority for future production growth and said Ingentia would intensify efforts to advance its pipeline evacuation project.

The new chief executive said management would maintain the momentum established under Odita and continue drawing on the experience and institutional knowledge developed during his tenure.