President Bola Tinubu has welcomed the Final Investment Decision (FID) by AMNI International Petroleum Development Company Limited and TotalEnergies EP Nigeria Limited on the $1.108 billion Ima Gas Project. The project aims to produce about 350 million standard cubic feet of gas per day and supply approximately 30 per cent of the feed gas required for Nigeria LNG’s Train 7. Tinubu stated that the FID demonstrates what is possible when investors are provided with a competitive, predictable, and enabling environment.
The Ima Gas Project has independently confirmed gross reserves of about 1.28 trillion cubic feet (Tcf) of non-associated gas and is expected to produce at plateau for a minimum of eight years. First gas is targeted for October 2028. The FID marks a major step in the commercialisation of AMNI’s offshore gas resources and will see the project move into engineering, procurement, and construction following the completion of Front-End Engineering Design (FEED) and key project agreements.
President Tinubu emphasized that Nigeria's natural resources must be turned into productive investments and economic opportunities. He stated that the government is determined to unlock more of Nigeria’s gas resources to power industries, expand exports, create jobs, and build lasting prosperity for its people. The President's remarks highlight the importance of the project in driving economic growth and development in Nigeria.
The Chairman and Chief Executive Officer of AMNI, Chief Tunde J. Afolabi, said the investment decision reflected the company’s commitment to developing Nigeria’s oil and gas resources and expanding its role as an indigenous energy company. Afolabi noted that the FID for the Ima Gas Project represented an important milestone for AMNI and reflected its continued commitment to the responsible development of Nigeria’s oil and gas resources.
Afolabi also highlighted the significance of the project in demonstrating Nigeria's ability to attract long-term investment into its energy sector. He stressed the need for cooperation among government, regulators, international energy companies, indigenous operators, financiers, contractors, host communities, and workers to create economic value from Nigeria's large hydrocarbon resources.
The AMNI CEO emphasized that indigenous participation in the energy sector should go beyond ownership, stressing the need for capability, technical excellence, financial discipline, and good governance. He added that Nigerian companies need to build partnerships with leading international energy companies based on mutual respect and complementary strengths, citing the partnership with TotalEnergies as an example.
With the FID achieved, Afolabi stated that the priority had shifted to project delivery, with emphasis on safety, technical integrity, environmental responsibility, engagement with host communities, and meaningful participation by Nigerian businesses and professionals. AMNI remains committed to Nigerian content, technical excellence, safety, and environmental responsibility, with local participation embedded in its operations and the development of Nigerian capability across the energy value chain.
Key points
- The $1.108 billion Ima Gas Project aims to produce 350 million standard cubic feet of gas per day.
- The project will supply approximately 30 per cent of the feed gas required for Nigeria LNG’s Train 7.
- First gas from the project is targeted for October 2028.
