Economy
NNPC Applauds $800m Ima Gas Final Investment Decision
By Modupe Gbadeyanka
The $800 million Final Investment Decision (FID) on the Ima Gas Project has been welcomed by the Nigerian National Petroleum Company (NNPC) Limited.
The oil firm, in a statement signed by its Chief Corporate Communications Officer, Mr Andy Odeh, described the project as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.
The chief executive of NNPC, Mr Bashir Bayo Ojulari, also described the project 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.
It is expected to 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.
The project is located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies.
It was enabled by the Presidential Directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs. Ima is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, after Iseni, Ubeta and HI.
The NNPC has also applauded the collaboration among AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.
