Ingentia Energies Targets 30,000bpd Output by 2030

Ingentia Energies Limited has unveiled plans to scale up crude oil production to 30,000 barrels per day by 2030, as the indigenous firm intensifies drilling activities, phases out gas flaring and strengthens its position within Nigeria’s upstream oil and gas sector.

The company’s Chairman, Engr. Valentine Ugbeide, disclosed the expansion strategy during a strategic meeting with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), where he highlighted recent operational gains and financing milestones.

Ugbeide said the company had secured debt financing from a Nigerian bank to support its next phase of development, reflecting growing confidence among local financial institutions in Ingentia’s business model and operational performance.

According to him, the company’s evolution from a difficult indigenous asset acquisition into a steadily growing producer demonstrates that Nigerian firms can successfully manage upstream assets when supported by strong regulation, technical expertise and effective governance structures.

He cited the development of the Egbolom field as a model for indigenous participation, noting that the company had navigated significant structural and financial constraints that historically limited local operators.

“Egbolom has become a role model that mirrors what indigenous companies can achieve despite obstacles. Our success should serve as a blueprint for other local firms,” Ugbeide said.

The chairman added that Ingentia has maintained strong regulatory compliance, including consistent royalty payments and no defaults on gas flare penalties. Current flaring levels, estimated between 1.8 million and 3 million standard cubic feet of gas per day, are expected to be eliminated before the end of the year.

He explained that the company is finalising infrastructure in partnership with a Chinese technical firm to commercialise its gas resources and supply energy to on-site facilities.

“Before the end of this year, that gas will be fully utilised, and we will stop flaring completely,” he said.

Ugbeide also highlighted investments in operational infrastructure, including the development of the Ogunokun base with jetty and mooring systems, alongside expanded drilling sites, accommodation and logistics support.

From an initial workforce of two employees, the company has grown to more than 100 direct and indirect staff, with plans to recruit further as production increases from current levels towards an interim target of 10,000 barrels per day.

He noted that Ingentia intends to drill at least two wells annually, supported by new seismic campaigns aimed at unlocking deeper hydrocarbon reserves.

“Our target is clear, by 2030, we want to be in the neighbourhood of 30,000 barrels per day,” he said.

Ugbeide also underscored the importance of human capital development and inclusivity, calling for greater opportunities for young professionals and women in the oil and gas industry.

Responding, the Commission Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, reaffirmed the regulator’s commitment to strengthening indigenous participation while maintaining strict compliance standards.

She described indigenous operators as critical to the future growth and sustainability of Nigeria’s upstream sector, noting that incremental production from multiple local firms could significantly boost national output.

“For the indigenous players, this is a major space. Little drops matter, and when you have many operators contributing consistently, the cumulative impact becomes substantial for national production,” she said.

Eyesan commended Ingentia’s leadership for demonstrating strategic direction and execution capacity but cautioned that growth must be supported by strong institutional frameworks, technical competence and sound governance.

She warned that some indigenous firms focus on short-term production at the expense of building sustainable operational systems, stressing that long-term success requires deliberate investment in human capital and organisational capacity.

“Human capital development is no longer optional. Indigenous companies must invest in the right capabilities, systems and structures to remain competitive and sustainable,” she said.

The NUPRC boss also urged operators to uphold corporate responsibility by meeting statutory obligations, including the payment of royalties and gas penalties.

She disclosed that the Commission has opened compliance windows for indebted operators, with clear timelines for settling outstanding obligations.

“Be the good corporate citizen that you should be. Pay your debts. Those owing royalties and gas penalties have been given opportunities, but compliance is not negotiable,” she said.

Industry observers say Ingentia’s progress reflects the growing capacity of indigenous firms to play a larger role in Nigeria’s upstream sector, particularly under the Petroleum Industry Act, which seeks to deepen local participation and improve sector governance.