TotalEnergies and AMNI Sign $800M Deal for Ima Gas Field
Nigeria's long-awaited development of the Ima Gas Field, discovered in 1973, is progressing following the signing of an $800 million Final Investment Decision (FID) by TotalEnergies and AMNI International. This project, located in Oil Mining Lease (OML) 112 and 117, is expected to produce approximately 350 million standard cubic feet of gas per day, significantly enhancing Nigeria's gas supply and creating investment, job, and export opportunities.
President Bola Tinubu welcomed the FID, emphasizing the importance of transforming natural resources into economic opportunities. Since assuming office on May 29, 2023, Tinubu has prioritized reforms to attract investment in the oil and gas sector, addressing years of underinvestment.
The financing for the project is largely arranged by Nigerian financial institutions, with a significant portion of the workforce expected to come from local communities in Rivers State. The first gas is anticipated in 2028, marking a pivotal moment in Nigeria's energy landscape.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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