Chairman of Ingentia Energies Limited, Engr Valentine Ugbeide, has said the company has an expansion plan to raise production to 30,000 barrels per day by 2030. He added that the company has secured some facility from a Nigerian bank to deepen drilling, end gas flaring, and strengthen its position as a model for local participation in Nigeria’s oil and gas industry.

Ugbeide, spoke when he and his top management team had a strategic engagement with the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, at the Commission’s headquarters in Abuja, according to a statement yesterday.

“Our target is clear — by 2030, we want to be in the neighbourhood of 30,000 barrels per day,” he said. Ugbeide said Ingentia’s journey from a challenging indigenous acquisition to a growing production company demonstrated that Nigerian firms can successfully operate strategic upstream assets when backed by the right regulatory support, technical competence, and collaborative governance structure.

Describing the company’s Egbolom field development as a template for indigenous operators, he said Ingentia had overcome formidable structural and financial barriers that were initially designed to frustrate local operators.

He said: “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.”

He revealed that after demonstrating operational discipline and strong compliance performance, local financial institutions gained confidence in Ingentia’s business model, leading to the recent debt financing. “We got debt funding from a local bank last week to continue our activities. They saw our performance and began pursuing us because of what