Ingentia Sets New Drilling Agenda as Oil Output Surges

Ingentia Energies Limited is entering a new phase of operations under Victor Agbaroji, who has taken over as Managing Director and Chief Executive Officer with a plan focused on drilling and production.

Agbaroji will oversee the company’s next drilling campaign as Ingentia prepares to use data from an ongoing seismic acquisition programme to guide exploration and field operations.

The company’s new CEO said the seismic work would provide a basis for a more efficient drilling programme and better exploration results.

“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.

The leadership change comes after the company recorded a 150 per cent rise in oil production under Engr Charles Odita, who served as acting CEO before Agbaroji’s appointment.

New CEO outlines priorities

Agbaroji said his agenda would also include getting more value from Ingentia’s existing assets and improving the company’s cost competitiveness.

He also identified portfolio expansion and greater value from the company’s gas resources as areas requiring attention under his leadership.

Crude oil evacuation infrastructure is another part of the new CEO’s plans.

Agbaroji said Ingentia would intensify work on its pipeline evacuation project, which he identified as important to future production growth.

The company’s board disclosed the leadership change after a meeting in Lagos attended by Agbaroji and Odita.

The board chairman, Chief Oseni Elamah, said production had risen by 150 per cent during Odita’s tenure from 2,200 barrels per day.

Elamah praised Odita’s tenure, citing strategic clarity, decisive execution and exceptional leadership.

Agbaroji acknowledged the results achieved under Odita and said he would build on the foundation established during the former acting CEO’s tenure.

He also said Ingentia would continue to benefit from the experience and institutional knowledge developed during Odita’s time with the company.

The new administration prepares Ingentia for its next drilling phase after a major rise in output.

Its immediate operational work includes the seismic acquisition programme and the pipeline evacuation project.