The Nigerian Upstream 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 evidence of the impact of consistent policy direction and investor confidence in Nigeria’s oil and gas sector.
The FID was announced on Wednesday, September 23, 2026, at a ceremony held at the Transcorp Hilton Hotel in Abuja.
Speaking at the event, the Commission Chief Executive of the NUPRC, Gbenga Komolafe, said the project’s advancement was linked to the Federal Government’s recent reforms aimed at improving the investment climate in the petroleum industry.
“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,” he said.
Komolafe said the Commission would continue to remove regulatory obstacles and create an enabling environment for investors.
“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,” he said.
The Ima offshore gas field was discovered in 1973 and has remained undeveloped for more than five decades. Its development is expected to provide about one-third of the feedgas required for the expansion of Nigeria LNG’s Train 7 project.
Located in water depths of between eight and 10 metres off the coast of Rivers State, the Ima field is operated by TotalEnergies, which holds a 40 per cent interest, while indigenous energy company AMNI International owns the remaining 60 per cent.
At plateau production, the field is projected to deliver about 350 million standard cubic feet of dry gas per day, with first gas expected by the end of 2028.
TotalEnergies Managing Director, Mathieu Bouyer, described the project as a vote of confidence in Nigeria’s oil and gas industry, putting the investment at more than $600 million.
He said seven Nigerian financial institutions, including Zenith Bank and United Bank for Africa (UBA), are providing about 77 per cent of the project financing.
According to Bouyer, the Ima Gas Project could generate between $2 billion and $4 billion in value over its lifetime, depending on prevailing international gas prices.
The project is expected to strengthen domestic gas supply while supporting Nigeria’s broader efforts to deepen investment, expand gas production and maximise the economic value of its significant natural gas resources.
