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 landmark development that affirms the growing viability of
Nigeria’s upstream gas sector.
The project, located offshore in OMLs 112 and 117 and developed by AMNI
International in partnership with TotalEnergies, according to a statement on Friday produce about 300 million standard cubic feet of gas per day at peak. The output will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.
The FID the statement also disclosed was enabled by the Presidential Directives of 2024, which provided
fiscal incentives for non-associated gas, streamlined contracting, and lowered development costs. Ima is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, after Iseni, Ubeta and HI.
Group Chief Executive Officer, NNPC Ltd., Engr. Bashir Bayo Ojulari in his reaction to the development 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 Ltd. also commends the collaboration between AMNI, TotalEnergies,and
the Nigerian financial sector, saying the model of indigenous operator,
international partner and domestic capital is a template for future
developments.
NNPC Ltd. reaffirms its commitment to work with government, regulators and
industry partners to sustain investment momentum and deploy Nigeria’s gas
resources for industrialisation, job creation and long-term prosperity
