Project by AMNI and TotalEnergies expected to produce 300 million standard cubic feet of gas daily at peak
President Bola Tinubu has welcomed the $800 million Final Investment Decision (FID) on the Ima Gas Project, describing it as another step towards unlocking Nigeria’s gas resources for industrial development, investment and job creation.
The Ima Gas Project, being developed by Nigerian independent energy company AMNI International in partnership with TotalEnergies, is expected to produce about 300 million standard cubic feet of gas per day at peak, according to a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The gas resource, located offshore in OMLs 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades.
The Federal Government said the FID announced on September 23 would allow the resource to move from discovery to development, with the project expected to contribute to Nigeria’s gas supply and broader economic activity.
The Ima project is the fourth major gas project to reach FID since Tinubu assumed office, following the Iseni, Ubeta and HI projects, according to the Presidency.
Tinubu said the development demonstrated the importance of creating conditions that encourage investment in Nigeria’s energy sector.
“For more than fifty years, the gas beneath Ima remained a resource with enormous potential, but potential alone does not create jobs, finance businesses or improve the lives of our people,” the President said.
He added that the government was working to create a “competitive, predictable and enabling environment” to unlock more gas resources, support industries, increase exports and create jobs.
The Special Adviser to the President on Energy, Olu Verheijen, said the project reflected the objective of the administration’s reforms to create commercial and investment conditions capable of moving Nigeria’s undeveloped resources into production.
“A gas discovery made in 1973 can only contribute to prosperity when somebody invests the capital to develop it, banks finance it, contractors build it, Nigerians work on it, and the gas is ultimately put to productive use,” she said.
According to the Presidency, Nigerian financial institutions have arranged 77 per cent of the project’s financing, while about 60 per cent of its workforce is expected to come from host communities, including Bonny, Finima and Andoni in Rivers State.
The project also highlights the role of indigenous companies in Nigeria’s upstream petroleum sector, with AMNI International holding a majority interest in the asset.
The government said its gas strategy extends beyond production to the utilisation of gas for LNG exports, industrial feedstock, fertiliser and petrochemical production, power generation and other economic activities.
The development comes as the Federal Government continues to promote increased domestic utilisation of Nigeria’s large gas reserves, including through projects aimed at expanding gas infrastructure and industrial use.
Tinubu said the administration’s objective was to ensure that Nigeria’s gas resources translate into broader economic opportunities.
“Our goal is to ensure that Nigeria’s gas powers Nigerian prosperity,” he said.