NNPC SAYS FID ON IMA GAS FIELD AFFIRMS VIABILITY OF NIGERIA’S UPSTREAM GAS SECTOR

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has described the $800 million Final Investment Decision (FID) on the Ima Gas Project as a major milestone that demonstrates growing confidence in Nigeria’s upstream gas sector and the investment reforms supporting it.  

The Ima Gas Project, located offshore in OMLs 112 and 117, is being developed by Nigerian independent energy company AMNI International in partnership with TotalEnergies. The project is expected to produce significant volumes of gas and supply feedgas to Nigeria LNG Limited (NLNG) for its Train 7 expansion, which is planned to increase the Bonny Island plant’s capacity from 22 million tonnes per annum to 30 million tonnes.

NNPC Group Chief Executive Officer, Bayo Ojulari, said the FID represents a “decisive vote of confidence” in Nigeria’s gas industry and the reforms designed to create more competitive and predictable investment conditions. NNPC said the project was facilitated by 2024 Presidential Directives that introduced fiscal incentives for non-associated gas developments, streamlined contracting processes and helped reduce development costs.  

The Ima field was discovered in 1973 but remained undeveloped for more than five decades. Its development is now expected to unlock additional gas supply for Nigeria’s energy and industrial needs, with production targeted for 2028.  

NNPC also highlighted the collaboration between AMNI, TotalEnergies and Nigerian financial institutions, noting that the combination of an indigenous operator, international technical partnership and domestic financing could provide a model for future energy projects.

The company reaffirmed its commitment to working with government agencies, regulators and industry partners to sustain investment in Nigeria’s gas resources and support industrialisation, job creation, LNG expansion and economic growth.