NNPC Ltd Welcomes $800m Ima Gas Final Investment Decision

  




By allcitynews.ng 



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


Just as the Group Chief Executive Officer, NNPC Ltd., Eng Bashir Bayo Ojulari, in a statement by Chief Corporate Communications Officer, Andy Odeh, described it as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.


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 will supply critical feedgas to Nigeria LNG Limited in support of its Train 7 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. 


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


NNPC Ltd. also commends 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. 


NNPC Ltd. reaffirms its 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.




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