INGENTIA PLANS DRILLING EXPANSION AFTER 150% PRODUCTION GROWTH

Ingentia Energies Limited is planning to expand its drilling operations after recording a 150 per cent increase in oil production under its outgoing Chief Executive Officer, Charles Odita. The company has now appointed Victor Agbaroji as its new Managing Director and CEO.

The company’s board said the production increase reflected the operational and growth strategies implemented during Odita’s tenure. It also commended him for his leadership as he handed over to Agbaroji.

The new CEO said the company would build on the progress made under his predecessor, with enhanced drilling activities among its immediate priorities. He said Ingentia would leverage an ongoing seismic acquisition programme to improve drilling efficiency and exploration results.

Agbaroji also identified maximising the value of existing assets, improving cost competitiveness, expanding the company’s portfolio and increasing the value of its gas resources as key areas of focus.

He further highlighted crude oil evacuation infrastructure as important to future production growth. According to him, the company plans to intensify efforts to advance its pipeline evacuation project.

The leadership transition is expected to support Ingentia’s plans to consolidate its production gains, increase operational efficiency and expand its activities as an indigenous energy company.