The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a major milestone for Nigeria’s upstream gas sector.
The offshore project, located in Oil Mining Leases (OMLs) 112 and 117, is being developed by AMNI International in partnership with TotalEnergies and is expected to produce about 300 million standard cubic feet (mmscfd) of gas per day at peak.
The gas will provide critical feedstock to Nigeria LNG Limited for its Train 7 expansion, which is expected to raise production capacity at the Bonny Island plant from 22 million tonnes per annum to 30 million tonnes per annum.
The FID followed the Federal Government’s 2024 Presidential Directives introducing fiscal incentives for non-associated gas projects, streamlining contracting processes and reducing development costs.
According to NNPC Ltd., Ima is the fourth major gas project to reach FID under the administration of President Bola Ahmed Tinubu, following the Iseni, Ubeta and HI gas projects.
NNPCL Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, described the investment decision as “a decisive vote of confidence in Nigeria’s gas sector” and the reforms aimed at creating competitive terms and a predictable investment environment.
The national oil company also highlighted the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, describing the combination of an indigenous operator, international partner and domestic capital as a model that could support future gas developments.
NNPC Ltd. said it would continue working with the Federal Government, regulators and industry stakeholders to sustain investment in the gas sector and deploy Nigeria’s gas resources towards industrialisation, job creation and long-term economic growth.
