Tinubu Excited as TotalEnergies, AMNI Sanction $800m Ima Gas Project After 53-Year Wait

TotalEnergies and Nigerian energy company AMNI International have taken a final investment decision on the $800 million Ima Gas Project, unlocking an offshore resource discovered in 1973 and positioning it as a major source of feedgas for Nigeria LNG’s expansion.

TotalEnergies will operate the project with a 40 per cent interest, while AMNI holds the majority 60 per cent stake. The Ima field straddles Oil Mining Leases 112 and 117 in shallow waters near Bonny Island, Rivers State.

The development will comprise a single offshore platform connected to the Nigeria LNG plant through a 22-kilometre pipeline. Production is expected to begin in 2028 and reach a plateau of 350 million cubic feet of gas per day, equivalent to more than 60,000 barrels of oil equivalent daily, according to TotalEnergies.

Once operational, Ima is expected to supply approximately one-third of the gas required for the ongoing Nigeria LNG Train 7 project. The expansion will raise the Bonny Island plant’s production capacity from 22 million tonnes per annum to 30 million tonnes.

President Bola Tinubu welcomed the investment, describing it as evidence that his administration’s reforms were creating the conditions needed to move Nigeria’s long-stranded gas resources into commercial production.

“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.

“The Final Investment Decision on Ima demonstrates what is possible when we provide investors with a competitive, predictable and enabling environment.”

The project is the fourth major Nigerian gas development to reach a final investment decision since Tinubu took office, following the Usan, Ubeta and HI projects.

According to the Presidency, Nigerian financial institutions arranged 77 per cent of Ima’s financing. Approximately 60 per cent of the workforce required during its development is expected to come from host communities, including Bonny, Finima and Andoni in Rivers State.

TotalEnergies said the project would have substantial Nigerian content, with local companies serving as the principal contractors.

The company described Ima as a low-cost, low-emissions development. Its design includes shore-based electric power, permanent methane detection and monitoring systems, and operations without routine flaring.

TotalEnergies’ President of Exploration and Production, Nicolas Terraz, said the investment marked another milestone in the company’s integrated gas strategy in Nigeria.

“After the Ubeta project sanctioned in 2024 and expected to start up next year, Ima demonstrates again our ability to unlock new low-cost and low-emissions gas resources,” Terraz said.

He added that the project would contribute significantly to Nigeria LNG’s gas supply while creating long-term value for Nigeria and the project partners.

Special Adviser to the President on Energy, Olu Arowolo Verheijen, said Ima illustrated the intended impact of the administration’s oil and gas reforms.

“A gas discovery made in 1973 can only contribute to prosperity when somebody invests the capital to develop it, banks finance it, contractors build it, Nigerians work on it, and the gas is ultimately put to productive use,” she said.

The government said presidential directives introduced in 2024 had helped improve fiscal competitiveness, shorten contracting timelines and reduce project costs. The measures were designed to complement the Petroleum Industry Act of 2021 and revive projects previously considered commercially unviable.

The investment also highlights the expanding role of indigenous companies in Nigeria’s upstream petroleum industry. AMNI’s majority ownership positions the Nigerian company at the centre of one of the country’s most significant new gas developments.

TotalEnergies has operated in Nigeria for more than 60 years and employs over 1,800 people across its business segments. The company produced approximately 188,000 barrels of oil equivalent per day in the country in 2025 and operates a distribution network of about 540 service stations.

The Ima development is expected to strengthen feedgas supply to Nigeria LNG, increase export capacity and foreign-exchange earnings, and create new opportunities for Nigerian workers, contractors and financial institutions.