NNPC Welcomes $800m FID On Ima Gas Project
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 boost to 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.
At peak production, Ima is expected to deliver about 300 million standard cubic feet of gas per day, with the output earmarked as feedgas for Nigeria LNG Limited’s Train 7 expansion.
The Train 7 project is expected to increase production capacity at the Bonny Island plant from 22 million tonnes per annum (Mtpa) to 30 Mtpa.
NNPC said the FID was enabled by the Presidential Directives issued in 2024, which introduced fiscal incentives for non-associated gas, streamlined contracting processes and reduced development costs.
Ima is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, following Iseni, Ubeta and HI.
Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, described the investment decision as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have created competitive terms and a predictable investment environment.
NNPC also commended the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, describing the partnership involving an indigenous operator, international partner and domestic capital as a model for future gas developments.
The company said it would continue working with the government, regulators and industry stakeholders to sustain investment in the sector and deploy Nigeria’s gas resources for industrialisation, job creation and long-term economic growth.
Sources
National Assembly Official Records, Constitution Alteration Review Committee, STOM Politics Desk Special Investigation.
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