Nigeria Secures $800 Million Investment for IMA Gas Field Project
The Nigerian government has hailed a major investment decision by TotalEnergies E&P Nigeria and AMNI International Petroleum Development Company Limited to develop the IMA Gas Field. The project, valued at $800 million, marks a significant boost for investor confidence in the country's oil and gas sector.
Nigeria's Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, attributed the decision to President Bola Tinubu's reforms under the Petroleum Industry Act (PIA). The minister noted that the PIA has created a more stable and globally competitive investment environment, making Nigeria attractive to international investors.
The IMA field is expected to deliver an average of 350 million standard cubic feet of gas per day at peak, equivalent to over 60,000 barrels of oil equivalent per day. The project will provide feed gas to the Nigeria Liquefied Natural Gas (NLNG) plant and support the country's ambition to expand LNG capacity.
Nigeria's Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the IMA project as a vote of confidence in the country's gas sector. The minister emphasized that the federal government is committed to maintaining a stable, predictable, and investment-friendly framework through the PIA.