By Seun Ibiyemi
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Final Investment Decision (FID) on the $800 million Ima Gas Project, describing the development as a major boost to investment confidence in 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 and is expected to produce about 300 million standard cubic feet of gas per day at peak production.
The gas output is expected to provide critical feedgas to Nigeria LNG Limited (NLNG) to support the expansion of its Train 7 project, which will raise the Bonny Island plant’s production capacity from 22 million tonnes per annum (Mtpa) to 30 Mtpa.
The FID was enabled by the Presidential Directives issued in 2024, which introduced fiscal incentives for non-associated gas projects, streamlined contracting processes and helped reduce development costs.
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.
Group Chief Executive Officer of NNPC Ltd., 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 more competitive and predictable investment conditions.
According to him, the development demonstrates the growing viability of Nigeria’s gas resources and the potential for further investment in the upstream sector.
NNPC Ltd. also commended the collaboration between AMNI International, TotalEnergies and Nigeria’s financial sector in financing the project.
The company said the partnership between an indigenous operator, international energy company and domestic financial institutions could serve as a model for future developments in Nigeria’s oil and gas industry.
The Ima Gas Project is expected to contribute to increased domestic gas supply while supporting the broader development of Nigeria’s gas value chain.
NNPC Ltd. reaffirmed its commitment to working with the Federal Government, regulators and industry stakeholders to sustain investment momentum in the gas sector.
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The company said increased development of Nigeria’s gas resources would support industrialisation, create employment opportunities and contribute to long-term economic growth.
The Final Investment Decision on the Ima Gas Project comes amid renewed efforts to accelerate gas development and unlock investments in Nigeria’s vast gas reserves.
