Nigeria Secures $800M Investment for Long-Abandoned Ima Gas Field

Nigeria's Ima Gas Field has received an $800 million Final Investment Decision (FID) from AMNI International and TotalEnergies, marking a major milestone for the country's gas sector. The project is expected to deliver up to 350 million standard cubic feet of gas per day at plateau and produce first gas by the end of 2028.

The Ima field has been undeveloped since its discovery in 1973, but President Bola Ahmed Tinubu's administration has created conditions for commercial investment. The project will supply about one-third of the feedgas required for Nigeria LNG's Train 7 expansion and is expected to have a significant local economic impact.

AMNI holds 60% of the project, while TotalEnergies holds 40% and operates the field. Nigerian financial institutions are providing about 77% of the project financing, demonstrating increased participation by domestic banks in financing major oil and gas developments.

TotalEnergies Managing Director Mathieu Bouyer said the company's investment represented confidence in Nigeria's oil and gas industry and projected that the project could generate between $2 billion and $4 billion in value over its lifetime.