NNPC Hails $800m Ima FID, Says Deal Affirms Upstream Viability

The Nigerian National Petroleum Company Limited (NNPC Ltd) has commended the $800 million Final Investment Decision (FID) on the Ima Gas Project, hailing it as a significant milestone that verifies the increasing attractiveness of Nigeria's upstream gas industry. Situated in offshore OMLs 112 and 117, the project is being developed by AMNI International in collaboration with TotalEnergies, and is expected to generate around 300 million standard cubic feet of gas daily at full capacity.

This production will serve as essential feedgas for Nigeria LNG Limited, supporting the expansion of its Train 7 project, which will boost the Bonny Island plant's capacity from 22 million tons per annum to 30 Mtpa.

According to a statement issued by NNPC, the FID was made possible by presidential directives from 2024 that offered fiscal incentives for non-associated gas, simplified contracting processes, and reduced development costs. Group Chief Executive Officer of NNPC Ltd., Bayo Ojulari, expressed his satisfaction, calling it a "clear endorsement of Nigeria's gas industry and the bold reforms" that have established competitive terms and a reliable investment climate.

NNPC also praised the collaboration between AMNI, TotalEnergies, and the Nigerian financial sector, emphasizing that the model of an indigenous operator, international partner, and domestic capital serves as an example for upcoming projects. The company reaffirmed its dedication to working alongside government, regulators, and industry allies to maintain investment momentum and harness Nigeria's gas resources for industrialization, job creation, and long-term prosperity.