Nigeria Unlocks 53-year Ima Gas Field as TotalEnergies, AMNI Sign $800m FID

Nigeria has taken a significant step towards unlocking its long-dormant Ima Gas Field after TotalEnergies and AMNI International signed an $800 million Final Investment Decision (FID). The deal, signed in Abuja, paves the way for the first gas production from the 53-year wait project, expected to start in 2028. The Ima Gas Field, located in Oil Mining Lease (OML) 112 and 117, is set to produce approximately 350 million standard cubic feet of gas daily.

This will significantly bolster Nigeria's gas supply, create jobs, and open up new avenues for export opportunities.

The Ima project, situated eight kilometers off Bonny Island in Rivers State, was discovered in 1973 but remained undeveloped for more than five decades. President Bola Tinubu hailed the deal, stating that the federal government has been working to create conditions that turn Nigeria's natural resources into productive investments and economic opportunities. The FID signing ceremony was attended by Deji Elumoye and Emmanuel Addeh.

TotalEnergies EP Nigeria's Managing Director, Mathieu Bouyer, emphasized that the investment is a significant vote of confidence in Nigeria's oil and gas industry and its investment environment. He noted that the project will be executed by Nigerian contractors, with more than 60% of the work being carried out locally. The project is also expected to generate between $2 billion and $4 billion in value over its lifetime, depending on global oil and gas prices.