A gas field off Nigeria’s coast that sat undeveloped for more than 50 years is finally moving toward production, after Nigerian firm AMNI International and TotalEnergies reached an $800 million Final Investment Decision (FID) on the Ima Gas Project.
The project, located in oil mining leases 112 and 117, is expected to produce around 300 million standard cubic feet of gas per day once it reaches peak output. First discovered in 1973, the Ima field had remained stranded despite its potential to supply feedgas to Nigeria LNG Limited.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, disclosed in a statement on Wednesday that President Bola Tinubu welcomed the decision, calling it the fourth major gas project to reach FID during his administration, following the Iseni, Ubeta, and HI projects.
He credited a series of 2024 presidential directives aimed at improving fiscal terms, cutting contracting timelines, and lowering costs for investors.
“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,” Tinubu said, adding that the government’s role has been to build the conditions that turn resources into investment.
Special Adviser to the President on Energy Olu Arowolo Verheijen framed the project as validation of the administration’s broader reform push, noting that a discovery is only valuable once it attracts capital, financing, and labor to bring it into production.
The project also highlights growing Nigerian involvement in the energy sector. AMNI International, an indigenous company, holds the majority stake, while Nigerian banks have financed 77 percent of the project. Around 60 percent of the workforce is expected to be drawn from nearby host communities, including Bonny, Finima, and Andoni in Rivers State.
Officials say the broader strategy is not just about increasing gas output but putting it to use — boosting LNG exports, supplying industrial and fertilizer production, supporting power generation, and creating jobs across the supply chain.
