The Ima Gas Project has reached a significant milestone with the Final Investment Decision by AMNI International Petroleum Development Company Limited and TotalEnergies EP Nigeria. This development marks a new chapter in AMNI's evolution from an established indigenous offshore oil producer to a more diversified oil and gas business. The project has been years in the making, involving extensive technical, commercial, and contractual work.
The Ima Gas Project is a major undertaking with an estimated development cost of approximately US$1.108 billion. It holds independently confirmed gross reserves of about 1.28 trillion cubic feet of non-associated gas. Once at plateau, the development is designed to produce approximately 350 million standard cubic feet of gas per day, sustaining that level for a minimum of eight years. This substantial production volume is expected to have a significant impact on Nigeria's gas industry.
The Ima Gas Project is not only a corporate growth project for AMNI but also a crucial part of Nigeria's national gas story. Gas from Ima is expected to provide approximately 30% of the feed gas requirement for Nigeria LNG's Train 7, creating a substantial and predictable long-term supply stream for one of Nigeria's most important gas infrastructure projects. This aligns with Nigeria's goals to deepen the commercialization of its considerable gas resources and increase supply to domestic and export markets.
The project's significance was underscored by President Bola Ahmed Tinubu, who cited Ima as an example of previously undeveloped gas resources being moved towards production. He also highlighted AMNI's position as the Nigerian company holding the majority interest in the development and the opportunities the project is expected to create for Nigerian engineers, technicians, contractors, businesses, and host communities.
The Ima Gas Project is a sizeable non-associated gas development connected to an established LNG growth programme and backed by a long-running partnership between an indigenous operator and an international energy company. This project is part of Nigeria's broader efforts to attract investment into its oil and gas sector and translate resource development into jobs, economic activity, and export earnings.
For AMNI, the Ima Gas Project is also rooted in its own history, dating back to its establishment in 1993. The company has developed capabilities across seismic acquisition and interpretation, exploration and appraisal drilling, field development, production operations, and offshore infrastructure. The project has been part of AMNI's story for decades, following the acquisition of the necessary assets.
First gas from the Ima Gas Project is targeted for October 2028. The project's development is expected to create significant opportunities for Nigerian businesses and communities, contributing to the country's economic growth. With its substantial production volume and long-term supply stream, the Ima Gas Project is poised to play a crucial role in Nigeria's gas industry for years to come.
Key points
- The Ima Gas Project has an estimated development cost of approximately US$1.108 billion and holds independently confirmed gross reserves of about 1.28 trillion cubic feet of non-associated gas.
- Gas from Ima is expected to provide approximately 30% of the feed gas requirement for Nigeria LNG's Train 7.
- First gas from the Ima Gas Project is targeted for October 2028.
