Tinubu Hails $800m Ima FID As Nigeria Unlocks Five-Decade-Old Gas Resource
The project is expected to add 300 million standard cubic feet of gas per day and supply about one-third of Nigeria LNG expansion feedgas.
- On Wednesday, AMNI International and TotalEnergies reached an $800 million Final Investment Decision for the Ima Gas Project, expected to increase Nigeria's gas production by 300 million standard cubic feet per day.
- Discovered in 1973 within OMLs 112 and 117, the Ima gas resource remained undeveloped for five decades until recent commercial conditions made the project viable despite earlier Petroleum Industry Act provisions.
- Nigerian financial institutions arranged 77 per cent of the financing, Special Adviser to the President Bayo Onanuga noted, while around 60 per cent of the project workforce will come from Bonny, Finima, and Andoni in Rivers State.
- President Bola Tinubu stated the decision demonstrates a "competitive, predictable and enabling environment," marking the fourth major gas FID since his administration began, following Iseni and Ubeta.
- Expected to produce about 350 million cubic feet of gas at peak, the Ima project will supply approximately one-third of the feedgas required for Nigeria LNG Limited's ongoing expansion.
43 Articles
43 Articles
AMNI and TotalEnergies Reach Final Investment Decision on US$1.108 Billion Ima Gas Project
Development to supply approximately 350 million standard cubic feet of gas per day and support NLNG Train 7 ABUJA, Nigeria read more AMNI and TotalEnergies Reach Final Investment Decision on US$1.108 Billion Ima Gas Project
TotalEnergies (NYSE: TTE) Takes Final Investment Decision On Nigerian Ima Gas Field To Strengthen LNG Export Capacity
TotalEnergies (NYSE: TTE) has committed to developing the Ima gas field offshore Nigeria, with the move designed to increase supply to the expanding Nigeria LNG export plant. The French supermajor is operator and holds a 40% interest in the Ima gas field, with local partner AMNI retaining the remaining 60% stake in the project. Both […]
TotalEnergies and AMNI commit $800 million to Nigeria’s Ima gas field 53 years after discovery
TotalEnergies and AMNI International have approved an $800 million investment to develop Nigeria’s Ima gas field, more than five decades after the field was first discovered.
AMNI and TotalEnergies reach final investment decision on US$1.108bn Ima Gas Project
Gas from the development is expected to supply approximately 30% of the feed gas requirement for Nigeria LNG’s Train 7, providing a significant long-term gas supply stream to the country’s expanding LNG infrastructure.
The French oil giant has taken its decision to invest massively in a gas field unexploited since its discovery off the island of Bonny nearly fifty years ago. A strong signal for Bola Tinubu, who wants to make the country a continental energy hub.
Tinubu hails $800m Ima Gas FID, says 1973 discovery to drive prosperity
By Johnbosco Agbakwuru ABUJA — President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as a major milestone in efforts to unlock Nigeria’s gas resources for investment, industrialisation, job creation and economic growth. The project, developed by Nigerian independent oil and gas company AMNI International […]
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