By Felix Olukayode
Indigenous oil and gas company Ingentia Energies Limited said it is targeting an expansion of its drilling operations after increasing oil production by 150 per cent under the leadership of Engr. Charles Odita, the company’s acting Chief Executive Officer.
This came as Victor Agbaroji assumed office as the company’s new Managing Director and CEO.
The development was disclosed in a statement signed by the Chairman of the Board, Chief Oseni Elamah, following a meeting in Lagos attended by Agbaroji and the outgoing CEO, Odita.
The board commended Odita for what it described as transformational leadership, noting that “production increased by 150 per cent during his tenure, from 2,200 barrels per day”.
Elamah extended congratulations, describing his tenure as transformational and characterised by strategic clarity, decisive execution and exceptional leadership.
Agbaroji, who succeeded Odita, expressed appreciation for the achievements recorded under his predecessor and pledged to build on the foundation already established.
He identified enhancing drilling operations, maximising the value of existing assets, improving cost competitiveness, expanding the company’s portfolio and unlocking greater value from its gas resources as key priorities for the next phase of growth.
“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.
He also stressed the importance of crude oil evacuation infrastructure to future production growth, saying the company would intensify efforts to advance its pipeline evacuation project.
Agbaroji reaffirmed management’s commitment to sustaining the momentum achieved under Odita, adding that the company would continue to benefit from the experience and institutional knowledge developed during his tenure.
The leadership transition is expected to consolidate Ingentia’s recent gains, expand production capacity, improve operational efficiency, and strengthen its position as an indigenous energy company.