Nigeria’s oil and gas sector has recorded a new investment milestone following the Final Investment Decision (FID) by TotalEnergies and its Nigerian partner, AMNI, to develop the Ima gas field.
The project, valued at approximately $800 million, is expected to support gas supply to the Nigeria LNG liquefaction plant and contribute to the country’s wider industrial and energy objectives.
TotalEnergies said in a statement on September 23 that it holds a 40 per cent interest in the development and serves as operator, while AMNI holds the remaining 60 per cent.
The Ima field is located in shallow waters near Bonny Island and straddles the OML 112 and OML 117 offshore licences. The development will involve a single platform connected through a 22-kilometre pipeline to Nigeria LNG.
Production is expected to begin in 2028, with output projected to reach 350 million standard cubic feet of gas per day. TotalEnergies said the field would supply approximately one-third of the gas required for the ongoing Nigeria LNG Train 7 expansion.
The expansion is expected to increase the liquefaction plant’s capacity from 22 million tonnes per annum to 30 million tonnes per annum.
President Bola Tinubu welcomed the investment decision and described it as evidence of progress in the country’s oil and gas sector reforms. The Ima development follows other projects that have reached FID during his administration, according to the Presidency.
The project’s expected benefits include increased gas supply, industrial development and additional investment in Nigeria’s energy sector. Actual economic outcomes will depend on construction, financing, project delivery and the commencement of production.
The Ima development also forms part of efforts to bring previously undeveloped gas resources into commercial production.