$800m Ima Gas Project Secures Final Investment Decision, Boosts Nigeria's Oil and Gas Sector
Nigeria's oil and gas sector reforms are beginning to deliver results, according to President Bola Ahmed Tinubu. The $800 million Final Investment Decision (FID) taken by TotalEnergies and Nigerian independent oil company AMNI International to develop the long-delayed Ima Gas Field is a testament to this.
Tinubu said the investment demonstrates the impact of measures introduced by his administration to make Nigeria a more competitive destination for oil and gas investments. He claimed that these reforms have reduced the cost and time required to develop projects and provided greater certainty for investors.
The Ima Gas Field, discovered in 1973, has remained undeveloped for over five decades. The project will be developed through a single platform connected by a 22-kilometre pipeline to Nigeria LNG's facilities at Bonny Island. Production is expected to commence in 2028.
TotalEnergies described Ima as a low-cost, low-emissions development, with a simplified platform design and no routine flaring. The project is also expected to have a significant Nigerian content component, with about 60 per cent of the workforce during the development phase coming from the host communities.