KEY POINTS
- TotalEnergies (40%, operator) and AMNI International (60%) took a final investment decision on the $800m Ima Gas Project offshore Rivers State, discovered in 1973 but never developed.
- The field should produce 350 million standard cubic feet a day at plateau and supply about a third of the gas for Nigeria LNG’s Train 7 expansion, with first gas targeted for 2028.
- There is a figure gap: the government cited $800m while TotalEnergies valued its own investment at more than $600m; the partners emphasized Nigerian local content and a low-emissions design.
TotalEnergies and Nigerian independent AMNI International have taken a final investment decision on the $800m Ima Gas Project, unlocking an offshore discovery that sat undeveloped for more than five decades.
The field, on Oil Mining Leases 112 and 117 offshore near Bonny Island in Rivers State, should produce 350 million standard cubic feet of gas a day at plateau. Specifically, it will supply about one-third of the gas needed for the Nigeria LNG Train 7 expansion, which lifts liquefaction capacity from 22 million tonnes a year to 30 million. Moreover, the partners target first gas in 2028.
Decades in the making
The Ima field was discovered in 1973 yet stayed untapped for over 50 years. According to President Bola Tinubu, presidential directives and executive orders, including one on the non-associated gas sector, cut costs and gave investors the certainty needed to proceed. Consequently, officials cast the decision as proof that reforms are drawing capital into long-stalled projects.
TotalEnergies frames the numbers more conservatively. Notably, while the government put the project at $800m, the operator valued its own investment at more than $600m. TotalEnergies holds a 40 per cent operating stake, with AMNI holding the remaining 60 per cent.
Local content and low emissions
The partners stressed Nigerian participation. According to TotalEnergies executive Mathieu Bouyer, local contractors will handle all four main project packages, with more than 60 per cent of local work done by nearby communities. Furthermore, the company designed the development as low-emissions, powering the offshore platform from shore, avoiding routine flaring and monitoring for methane.
AMNI chairman Tunde Afolabi called the milestone a signal to global investors. Additionally, he cautioned that capital has choices and warned against complacency. Ultimately, the partners now shift to execution, aiming to turn a 1973 discovery into producing gas by 2028.
The field connects to Nigeria LNG through a 22-kilometre pipeline and a single offshore platform.
