TotalEnergies, AMNI Reach FID on IMA Gas Project
TotalEnergies EP Nigeria Limited and AMNI International Petroleum Development Company Limited have announced the Final Investment Decision (FID) for the IMA Gas Development Project, a major milestone that will unlock an investment of over US$650 million in Nigeria's gas sector.
In his remarks at the FID ceremony in Abuja on Wednesday, September 23, 2026, Country Chair and Managing Director, TotalEnergies EP Nigeria Limited, Matthieu Bouyer, described the decision as "a defining moment" for the project and Nigeria's gas industry.
The IMA field, straddles OMLs 112 and 117 located off the coast of Bonny Island, is expected to produce 350 million standard cubic feet of gas per day, with first gas expected at the end of 2028. The development will supply feedstock to Nigeria LNG’s Train 7 and contribute significantly to the country's gas growth ambitions.
“IMA is a clear vote of confidence in Nigeria, in its gas potential and in the capacity of Nigerian companies and professionals to deliver a major project safely, competitively and responsibly,” Mr Bouyer said as he highlighted the impact of recent government reforms aimed at improving the investment climate and the confidence in Nigeria's gas potential, the capabilities of Nigerian companies and professionals.
Chairman and CEO, AMNI, Chief Tunde J. Afolabi, said the milestone demonstrates the strength of the long-standing partnership between his company and TotalEnergies.
"IMA is not only a commercial development for our joint venture. Its gas will provide material feedstock to Nigeria LNG and support the additional capacity being created through Train 7," Afolabi said.
Also in attendance were key regulatory bodies, ministers and government officials, who applauded the project and shared positive comments on its importance to Nigeria’s energy sector and national gas development agenda.
Th Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, affirmed the regulator's commitment to removing barriers to investment and supporting responsible sector growth.
The Special Adviser to President on Oil and Gas, Olu Verheijen noted that the IMA decision is the fourth major energy FID secured within the last two years as part of the government's strategy to unlock Nigeria's vast gas resources.
"Our objective is not simply to produce more gas," she said. "It is to use Nigeria's resources to power a more productive economy and improve the lives of our people."
The Rivers State Governor, Siminalayi Fubara, expressed delight with the project which he said cements the state’s position as the energy capital of Nigeria, stressing that the Rivers is safe and ‘open for business’. Represented by his Chief of Staff, Sunny Ewule, the governor said it was a clear message to the world that “Nigeria’s gas future is bankable, and Rivers State is ready.”
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, described the FID as another indication that the Federal Government's reforms are restoring investor confidence.
"Mr. President's reforms are working. Nigeria is now one of the most attractive investment destinations in the world," he said.
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the project aligns with the Federal Government's Decade of Gas initiative and will support industrialisation, power generation, manufacturing and economic growth.
The project will be financed through a consortium of seven banks (Zenith Bank, Access Bank, United Bank for Africa, Guaranty Trust Bank, Standard Bank, Standard Chartered Bank and First Abu Dhabi Bank), with Nigerian financial institutions providing more than 70% of the financing. All four major construction packages are expected to be executed by Nigerian contractors, reinforcing the project's commitment to local content and capacity development.
With an estimated lifetime value of $2 billion to $4 billion for Nigeria and significant opportunities for host communities and local businesses, the IMA Gas Development Project represents another important step in unlocking Nigeria's vast gas resources and delivering sustainable value for the country. It is important to state that IMA will have no routine flaring, and permanent methane monitoring will be integrated into the facilities.