NNPC Ltd Approves $800M Investment in Ima Gas Project

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced its approval of the $800 million Final Investment Decision (FID) for the Ima Gas Project, marking a significant advancement in Nigeria’s upstream gas sector. The project, situated offshore in OMLs 112 and 117, is being developed by AMNI International in collaboration with TotalEnergies and is expected to produce approximately 300 million standard cubic feet of gas per day at peak output.

This gas will provide essential feedgas to Nigeria LNG Limited, facilitating the expansion of its Train 7, which aims to increase the Bonny Island plant's capacity from 22 million tons per annum to 30 million tons per annum. The FID was made possible by presidential directives from 2024 that introduced fiscal incentives for non-associated gas, streamlined contracting processes, and reduced development costs.

Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd, described the decision as a strong endorsement of Nigeria’s gas sector and the reforms that have fostered a competitive investment climate.