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

Emmanuel Addeh

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, will 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.

In a statement, it stressed the FID was enabled by the presidential directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs. 

Group Chief Executive Officer, NNPC Ltd., Bayo Ojulari described it 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 also commended 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 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,” the statement added.