Nigeria's Amni, TotalEnergies approve $800 million offshore gas project
Nigeria's Amni, TotalEnergies approve $800 million offshore gas project By Tife Owolabi
YENAGOA, Sept 25 (Reuters) - Nigeria's state oil firm NNPC Ltd said on Friday that a proposed $800 million offshore natural gas project by local producer Amni International and TotalEnergies had reached a final investment decision, marking one of the biggest recent investments in Nigeria's upstream gas sector.
The Ima gas project located on Oil Mining Leases 112 and 117 is expected to produce around 300 million standard cubic feet of gas per day at peak output.
Gas from the project will feed Nigeria LNG's Train 7 expansion, boosting the Bonny Island plant's production capacity to 30 million tonnes per year from 22 million.
NNPC said the investment was enabled by President Bola Tinubu's oil reforms, which introduced fiscal incentives for gas projects, streamlined contracting processes and lowered development costs.
According to NNPC, which grants approvals for such projects, the Ima project is the fourth major gas development to reach FID since Tinubu's 2024 oil reforms.
(Reporting by Tife Owolabi in Yenagoa; Writing by Elisha Bala-Gbogbo; Editing by Nia Williams)
((Elisha.Bala-Gbogbo@thomsonreuters.com; Reuters Messaging: elisha.bala-gbgobo.thomsonreuters.com@reuters.net))
Recent news on TotalEnergies SE
See all newsFrance set to secure an extra 295,000 metric tons of diesel a month from Gulf countries (updated)
France secures additional 295,000 tons of diesel a month from Gulf countries, official says
Namibia's disputed petroleum bill clears second reading in parliament
Oil majors face spending test from Iran war windfall cash
Mozambique courts South African investment for new gas project