President Bola Tinubu has welcomed the $800 million Final Investment Decision for the Ima Gas Project. He said the development will help unlock a gas resource that has remained undeveloped for than 50 years.
The project is being developed by AMNI International, an independent energy company in partnership with TotalEnergies.
It is expected to produce 300 million standard cubic feet of gas per day at peak production.The Ima gas resource lies offshore in OMLs 112 and 117. It was discovered in 1973.
Has not been developed despite its potential to supply feedgas to Nigeria LNG Limited.According to Bayo Onanuga, the President’s Special Adviser on Information and Strategy the Ima Final Investment Decision is the major gas project to reach investment decision under Tinubu’s administration.
The others are Iseni, Ubeta, and HI. Tinubu said the project shows what investors can achieve in a competitive business environment. It also highlights growing participation in the oil and gas sector.
AMNI, a Nigerian-owned company holds a majority stake in the asset. Nigerian financial institutions arranged 77 per cent of the project’s financing.About 60 per cent of the project’s workforce is expected to come from host communities, including Bonny, Finima and Andoni in Rivers State.
The government said the project will support LNG exports, industrial development, power supply, job creation and opportunities for businesses.Tinubu said the goal is to ensure Nigeria’s gas resources are converted into opportunities, for Nigerians.
