Abuja:TotalEnergies EP Nigeria and AMNI International Petroleum Development Company Ltd. have made the Final Investment Decision (FID) for the IMA Gas Development Project located offshore Nigeria.
According to News Agency of Nigeria, the project aims to produce 350 million cubic feet of gas per day (MMcfd) and is expected to generate between two to four billion dollars in value over its lifetime. This development is a collaboration where TotalEnergies holds a 40 percent interest and AMNI holds a 60 percent interest.
Expected to be operational by 2028, the IMA field will deliver 350 MMcfd at peak production, supplying about one-third of the gas necessary for the Nigeria Liquefied Natural Gas (NLNG) Train Seven expansion. Located approximately eight kilometers offshore, the field is designed to supply gas to Nigeria NLNG Ltd., with first gas anticipated by the end of 2028.
The project represents an investment exceeding 600 million dollars and is seen as a commitment to Nigeria’s oil and gas sector. The development is characterized as a low-cost, low-emissions project with features like electric power from shore, no flaring, and permanent methane detection and monitoring.
The financing of the project is significantly supported by Nigerian banks, with over 75 percent of the funding sourced locally, making it a predominantly Nigerian endeavor. Around 60 percent of the workforce is expected to be from the host communities, with all key contractors being local companies.
The IMA project, along with TotalEnergies’ UBETA gas project, reflects an investment of over one billion dollars and aims to produce about 20 million standard cubic meters per day of gas. These projects highlight Nigeria’s competitive gas opportunities and the capacity to develop them industrially and financially.
Chief Tunde Afolabi, Chairman/CEO of AMNI International, emphasized the importance of trust and partnership between indigenous and international energy companies. The FID marks the beginning of the project, focusing on safe execution, technical integrity, and community engagement. AMNI will collaborate with TotalEnergies and the Nigerian Content Development and Monitoring Board to enhance Nigerian participation in various project phases.