NNPC: $800m Ima Gas FID Signals Growing Investor Confidence in Nigeria
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Final Investment Decision (FID) on the $800 million Ima Gas Project, describing the development as a significant boost to Nigeria’s upstream gas sector.
The Ima Gas Project, located offshore in Oil Mining Leases (OMLs) 112 and 117, is being developed by AMNI International in partnership with TotalEnergies.
At peak production, the project is expected to deliver about 300 million standard cubic feet of gas per day, with the output supplying critical feedgas to Nigeria LNG Limited (NLNG) for its Train 7 expansion project.
The Train 7 expansion is expected to increase the capacity of the Bonny Island LNG plant from 22 million tonnes per annum (Mtpa) to 30 Mtpa.
According to NNPC Ltd., the FID was enabled by the Presidential Directives issued in 2024, which introduced fiscal incentives for non-associated gas projects, streamlined contracting processes and reduced development costs.
The company said Ima Gas is the fourth major gas project to reach FID under the administration of President Bola Ahmed Tinubu, following Iseni, Ubeta and HI.
Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, described the investment decision as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have helped create competitive terms and a more predictable investment environment.
NNPC Ltd. also commended the collaboration among AMNI International, TotalEnergies and the Nigerian financial sector, describing the partnership between an indigenous operator, an international partner and domestic capital as a model that could support future oil and gas developments.
The national oil company reaffirmed its commitment to working with the Federal Government, regulators and industry stakeholders to sustain investment in the sector and unlock Nigeria’s vast gas resources for industrialisation, job creation and long-term economic growth.
