By Julius Peter, Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has welcomed the Final Investment Decision (FID) by TotalEnergies EP Nigeria Limited and AMNI International Petroleum Development Company Limited on the Ima Gas Development Project, describing the milestone as a demonstration of the impact of sustained policy direction and investor confidence in Nigeria’s oil and gas industry.
The FID was announced on Wednesday, September 23, 2026, at a ceremony held at the Transcorp Hilton Hotel in Abuja, where stakeholders in the petroleum industry gathered to mark the investment decision on the long-awaited offshore gas development.
The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, said the project represented a significant milestone for Nigeria’s upstream sector and underscored the importance of creating a regulatory environment capable of attracting and sustaining long-term investments.
Eyesan attributed the development to the policy direction of President Bola Tinubu’s administration, particularly measures aimed at improving the investment climate and removing obstacles to petroleum-sector development.
He said, “Today’s success is attributable to His Excellency, the President of the Federal Republic of Nigeria, President Bola Tinubu. Years ago, we could not have conceived that today we would be sitting here to celebrate a project if he hadn’t given the executive orders.”
The NUPRC boss said the Commission, as the industry’s chief regulator, would continue to support investors by addressing regulatory bottlenecks and creating greater certainty for businesses operating in the upstream petroleum sector.
“As the Chief Regulator in the industry, we will enable business, we will unplug obstacles. The President has set the path for us, and we are determined to follow through,” Eyesan said.
The Ima Gas Development Project is particularly significant to Nigeria’s efforts to expand domestic gas supply and strengthen the feedstock base required for the country’s liquefied natural gas industry.
The offshore Ima field was discovered in 1973 and is located in relatively shallow waters, between eight and 10 metres, off the coast of Rivers State.
Under the development arrangement, indigenous Nigerian oil and gas company AMNI International Petroleum Development Company Limited holds a 60 per cent participating interest in the field, while TotalEnergies holds the remaining 40 per cent interest and serves as operator.
At plateau production, the field is projected to deliver approximately 350 million standard cubic feet of dry gas per day.
The development is expected to provide about one-third of the feed gas required for Nigeria LNG’s Train 7 expansion, potentially strengthening the country’s gas supply capacity and supporting the expansion of value addition in the gas sector.
First gas from the Ima project is expected by the end of 2028.
Speaking on the investment, TotalEnergies Managing Director, Mathieu Bouyer, said the company’s commitment to the project represented a vote of confidence in Nigeria’s oil and gas industry and its future investment prospects.
Bouyer put the value of the investment at more than $600 million, making the project one of the significant new investments in Nigeria’s upstream gas sector.
He disclosed that seven Nigerian financial institutions, including Zenith Bank and United Bank for Africa (UBA), are providing approximately 77 per cent of the project financing.
The strong participation of Nigerian financial institutions in the financing structure is expected to deepen local involvement in major petroleum developments while demonstrating the growing capacity of domestic financial institutions to support capital-intensive projects in the oil and gas sector.
According to Bouyer, the Ima project could generate between $2 billion and $4 billion in value over its lifetime, depending largely on international gas and energy prices.
The project is therefore expected to deliver benefits beyond gas production, including economic activity, employment opportunities, increased participation of Nigerian businesses and additional revenues to government.
The FID also comes at a time when Nigeria is seeking to unlock more investment in its upstream petroleum industry following the implementation of reforms under the Petroleum Industry Act and subsequent measures aimed at improving the regulatory and fiscal environment.
The development of the Ima field is expected to contribute to the country’s broader gas ambitions by providing additional feedstock for the domestic and export-oriented gas value chain.
The project’s connection to Nigeria LNG’s Train 7 expansion is particularly important, as the availability of reliable feed gas remains a key factor in sustaining and expanding the country’s LNG production capacity.
The expected production of 350 million standard cubic feet of dry gas per day at plateau would therefore provide a substantial new source of gas for the country’s energy and industrial value chain.
The participation of AMNI, a Nigerian independent energy company, also highlights the growing role of indigenous operators in developing Nigeria’s hydrocarbon resources in partnership with international oil companies.
The partnership between AMNI and TotalEnergies combines indigenous ownership with the technical and operational capabilities of a major international energy company, while the financing arrangement involving Nigerian banks provides an additional layer of domestic participation.
The NUPRC’s endorsement of the FID signals the regulator’s intention to facilitate projects capable of increasing production, attracting capital and strengthening Nigeria’s position as a major gas-producing country.
The Commission has repeatedly emphasised the need to move projects from discovery and licensing stages to actual development and production, particularly as Nigeria seeks to maximise the economic value of its vast natural gas resources.
With the Ima field having remained undeveloped for decades after its discovery in 1973, the FID marks a major step towards converting the resource into commercial production.
Once completed, the project is expected to contribute significantly to Nigeria’s gas supply, support the expansion of LNG production and generate economic value through investment, financing, employment and government revenues.
The expected delivery of first gas by the end of 2028 will also make the Ima development an important project to watch as Nigeria continues to pursue its broader objective of positioning natural gas as a major driver of industrialisation, energy security and economic growth.
The FID by TotalEnergies and AMNI consequently represents not only a commitment to develop the Ima field but also a significant vote of confidence in Nigeria’s evolving upstream regulatory framework and the country’s long-term gas investment potential.
