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 significant development for Nigeria’s upstream gas sector.
The project, located offshore in Oil Mining Leases, OMLs, 112 and 117, is being developed by AMNI International in partnership with TotalEnergies.
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According to NNPC Ltd., the project is expected to produce about 300 million standard cubic feet of gas per day at peak production.
The company said the gas would provide critical feedstock to Nigeria LNG Limited, NLNG, to support the expansion of its Train 7 project.
The Train 7 expansion is expected to increase production capacity at the Bonny Island plant from 22 million tonnes per annum to 30 million tonnes per annum.
NNPC Ltd. said the Ima Gas FID was facilitated by the Presidential Directives issued in 2024, which introduced fiscal incentives for non-associated gas, streamlined contracting processes and reduced development costs.
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The company said Ima was the fourth major gas project to reach FID under the administration of President Bola Ahmed Tinubu, following the Iseni, Ubeta and HI gas projects.
The Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, described the FID as a vote of confidence in Nigeria’s gas sector and the reforms aimed at creating competitive terms and a predictable investment environment.
NNPC Ltd. also commended the collaboration between AMNI International, TotalEnergies and the Nigerian financial sector in achieving the project’s FID.
The company said the partnership between an indigenous operator, international partner and domestic capital could serve as a model for future oil and gas developments in the country.
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NNPC Ltd. said the development would contribute to the utilisation of Nigeria’s gas resources for industrialisation, job creation and long-term economic growth.
The company added that it would continue to work with the Federal Government, regulators and industry stakeholders to sustain investment in the country’s gas sector.