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Uju Ifejika and the $400 Million Gamble
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Uju Ifejika and the $400 Million Gamble

This Day about 2 hours 2 mins read

When Chevron let go of the Ajapa Marginal Field, it walked away from an asset that no longer fit its priorities. Uju Ifejika looked at the same field and saw a beginning.

Through Brittania-U Nigeria Limited, the company she has led as chairperson and chief executive since 2007, Ifejika committed more than $400 million to developing the offshore block. The money went into a Floating Production Storage and Offloading unit and additional wells, an investment that carried Ajapa from drilling to commercial output in just 17 months. 

Without question, it was a big turnaround, one still regarded as topping the list of fastest indigenous operators in the country.

Ifejika’s path into the industry ran through law before oil. She earned her LLB from Ahmadu Bello University in 1985 and was called to the Nigerian Bar a year later. Texaco hired her as junior counsel in 1987. A decade on, she was Company Secretary, and by 2003 she held the same post for public and government affairs across West Africa at Chevron, the very company whose field she would later take on.

That corporate grounding turned into a rare distinction. Ifejika became the first Nigerian woman to chair and lead an indigenous upstream exploration and production company with a producing marginal field, and the Ajapa asset itself is now valued by industry estimates at around $4.3 billion.

Brittania-U has since grown beyond a single field. Ifejika founded Brittania-U Ghana to extend the group’s exploration footprint, Nexttee Oil & Gas Trading to handle commodities, and Data Appraisal Co. for subsurface consulting.

The recognitions have followed the exploits. She holds Nigeria’s Officer of the Order of the Federal Republic, won the African Businesswoman Award in 2013, and picked up an international partner award from the US Commercial Service in 2015. Long before any of that, she served on the board of the Federal Ministry of Arts and Culture between 2001 and 2002.

In an industry that rarely rewards hesitation, Ifejika’s bet on a field others had abandoned reads less like luck and more like preparation meeting opportunity.

This article was sourced from an external publication.

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