Ingentia targets drilling expansion after 150% output increase

Ingentia Energies Limited is set to expand its drilling operations following a 150 percent increase in oil production during the tenure of Engr Charles Odita, who served as the acting Chief Executive Officer. Victor Agbaroji was recently appointed as the company's new Managing Director and CEO. This development was announced in a statement by the Chairman of the Board, Chief Oseni Elamah, following a meeting in Lagos attended by Agbaroji and Odita.

The board praised Odita's "transformational leadership," noting a 150 percent increase in production, which ranged from 2,200 barrels per day. Upon becoming CEO, Agbaroji expressed his appreciation for Odita's achievements and outlined key priorities for the company's growth, including enhancing drilling operations, maximizing the value of existing assets, improving cost competitiveness, expanding the company's portfolio, and unlocking greater value from its gas resources.

Agbaroji emphasized the importance of strengthening the drilling campaign, advancing the pipeline evacuation project, and improving crude oil evacuation infrastructure for future production growth. He also reaffirmed the management's commitment to sustaining the momentum achieved during Odita's tenure. The leadership transition is expected to consolidate Ingentia's recent gains, expand production capacity, improve operational efficiency, and strengthen the company's position as an indigenous energy company.