The Nigerian National Petroleum Company Limited (NNPC Ltd) has hailed the $800m Ima Gas project as a landmark development that affirms the growing viability of Nigeria's upstream gas sector. Located offshore in OMLs 112 and 117, the project is being developed by AMNI International in partnership with TotalEnergies. The project is expected to produce about 300 million standard cubic feet of gas per day at peak. This significant investment is a testament to the country's potential for growth in the gas sector.
The output from the Ima Gas project will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 expansion. This expansion will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa. A statement signed by NNPCL's Chief Corporate Communications Officer (CCCO), Andy Odeh, revealed that the Final Investment Decision (FID) was enabled by the Presidential Directives of 2024. These directives provided fiscal incentives for non-associated gas, streamlined contracting, and lowered development costs.
The Ima Gas project is the fourth major gas project to reach FID under President Bola Ahmed Tinubu, after Iseni, Ubeta, and HI. NNPCL's Group Chief Executive Officer, Engineer Bayo Ojulari, 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. This achievement demonstrates the positive impact of the current administration's policies on the country's gas sector.
The national oil company commended the collaboration between AMNI, TotalEnergies, and the Nigerian financial sector. The model of indigenous operator, international partner, and domestic capital is seen as a template for future developments. This partnership has facilitated the project's progress and serves as an example of effective collaboration in the industry.
NNPCL reaffirmed 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 company is dedicated to ensuring that the benefits of the project are shared among all stakeholders and contribute to the country's economic growth.
The Ima Gas project is expected to have a significant impact on Nigeria's economy, particularly in the areas of job creation and industrialisation. The project will provide opportunities for local businesses and communities to participate in the development and operation of the gas field. Furthermore, the project will contribute to the country's revenue through taxes and royalties.
President Bola Ahmed Tinubu has expressed confidence in the project's potential to drive economic growth. He stated that Nigeria will provide 60% of the workforce for the $800m Ima Gas Field. This commitment demonstrates the government's support for the project and its determination to ensure that the benefits of the project are shared among Nigerians.
Key points
- The Ima Gas project is a significant investment in Nigeria's gas sector, with an expected production of 300 million standard cubic feet of gas per day at peak.
- The project will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 expansion, increasing capacity at the Bonny Island plant.
- The project is a testament to the country's potential for growth in the gas sector, with the government committed to sustaining investment momentum and deploying Nigeria's gas resources for industrialisation and job creation.
