By: Tijani Salako.
The Nigerian Upstream Regulatory Commission (NUPRC) has applauded the Final Investment Decision (FID) by TotalEnergies EP Nigeria Limited and AMNI International Petroleum Development Company Limited on the Ima Gas Development Project, a move expected to strengthen gas supply for Nigeria’s energy sector.
The announcement of FID, on Wednesday, covers the development of the offshore Ima field, which is expected to provide about one-third of the feed gas required for Nigeria LNG’s Train 7 expansion.
Speaking at the FID ceremony at the Transcorp Hilton Hotel in Abuja, the Commission Chief Executive of the NUPRC said the project demonstrates what consistent policy direction and committed industry partners can deliver.
“As the Chief Regulator in the industry, we will enable business and unplug obstacles. The President has set the path for us, and we are determined to follow through,” she said.
Discovered in 1973, the Ima field is located in 8 to 10 metres of water off the coast of Rivers State. AMNI, an indigenous Nigerian oil and gas company, holds a 60 per cent interest in the project, while TotalEnergies holds 40 per cent and serves as operator.
At plateau, the field is projected to produce approximately 350 million standard cubic feet of dry gas per day, with first gas targeted for the end of 2028.
TotalEnergies Managing Director, Mathieu Bouyer, said the investment exceeds $600 million, describing it as a vote of confidence in Nigeria’s oil and gas industry.
Seven Nigerian financial institutions, including Zenith Bank and UBA, are providing about 77 per cent of the project financing, underscoring the role of domestic lenders in funding major upstream developments.
Bouyer said the project could generate between $2 billion and $4 billion in value over its lifetime, depending on international market prices.
The Ima development is therefore positioned as both an upstream investment and a strategic gas-supply project, with its output expected to support Nigeria’s LNG expansion and broader gas ambitions.
