What $800m Ima Gas Final Investment Decision means to NNPCL

By ruth MALAGU

GCEO, NNPCL, Bashir Ojulari

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the 800 million dollars Final Investment Decision (FID) on the Ima Gas Project.

NNPCL ​‌‌​‍‌‍⁠⁠‌⁠‍‌​⁠⁠‌⁠‌​described the project as a landmark development that affirms the viability of Nigeria’s upstream gas sector.

The Group Chief Executive Officer, NNPC Limited, Bashir Ojulari said this in a statement issued on Friday by Andy Odeh, Chief Corporate Communications Officer, NNPC Limited.

The project, located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies, will produce about 300 million standard cubic feet of gas per day at peak.

The output would supply critical feedgas to Nigeria Liquefied Natural Gas Limited (NLNG) in support of its Train Seven expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.

The FID was enabled by the Presidential Directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs.

Ima is the fourth major gas project to reach FID under President Bola Tinubu, after Iseni, Ubeta and HI.

Ojulari described it as a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms that have created competitive terms and a predictable investment environment.

He also commended the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.

He reaffirmed the commitment to work with government, regulators and industry partners to sustain investment momentum and deploy Nigeria’s gas resources for industrialisation, job creation and long-term prosperity.

Credit NAN: Texts excluding Headline