Ima Gas Project Marks a New Chapter in AMNI’s Growth Story

When AMNI International Petroleum Development Company Limited and TotalEnergies EP Nigeria formally marked the Final Investment Decision for the Ima Gas Project in Abuja, the moment represented far more than the approval of another upstream development.

For AMNI, it was the culmination of years of technical, commercial and contractual work, and the beginning of a new chapter in the Company’s evolution from an established indigenous offshore oil producer into a more diversified oil and gas business.

The Ima Gas Project carries an estimated development cost of approximately US$1.108 billion and holds independently confirmed gross reserves of about 1.28 trillion cubic feet of non associated gas. At plateau, the development is designed to produce approximately 350 million standard cubic feet of gas per day, sustaining that level for a minimum of eight years.

The significance of those volumes extends well beyond AMNI’s own portfolio. Gas from Ima is expected to provide approximately 30% of the feed gas requirement for Nigeria LNG’s Train 7, creating a substantial and predictable long term supply stream for one of Nigeria’s most important gas infrastructure projects. First gas is targeted for October 2028.

That makes Ima both a corporate growth project and part of a wider national gas story.

Nigeria has long sought to deepen the commercialisation of its considerable gas resources, increase supply to domestic and export markets and create greater value from resources that historically received less attention than crude oil. Ima sits directly within that transition: a sizeable non associated gas development connected to an established LNG growth programme and backed by a long running partnership between an indigenous operator and an international energy company.

A project rooted in AMNI history

For AMNI, the project is also rooted in its own history.

Established in 1993, the Company was among the indigenous businesses that entered Nigeria’s offshore exploration and production industry at a time when the sector was still largely dominated by international companies. AMNI subsequently developed capabilities across seismic acquisition and interpretation, exploration and appraisal drilling, field development, production operations and offshore infrastructure.

Ima itself has been part of that story for decades. Following the acquisition of the licence, AMNI commenced appraisal and development activity and achieved first oil production from Ima in 1996. The Company has since maintained continuous production for more than 30 years and expanded its portfolio across Nigeria’s upstream sector.

The relationship with TotalEnergies is similarly longstanding.

In 2005, Total, now TotalEnergies, entered into a Joint Venture with AMNI by acquiring a 40% working interest in OMLs 112 and 117, while AMNI remained operator. More than two decades later, the Ima Gas development represents a significant new phase in that relationship, building on gas resources discovered alongside the original Ima oil accumulation.

The decision to proceed with the project followed extensive technical, commercial and contractual preparation, including Front End Engineering Design and the execution of key project agreements. With FID achieved, the development now moves into engineering, procurement and construction ahead of commissioning and first gas.

A defining milestone for AMNI

For Chief Tunde J. Afolabi, MFR, Chairman / CEO of AMNI, the milestone reflects both the scale of the opportunity and the Company’s longer term direction.

“The Final Investment Decision for the Ima Gas Project represents an important milestone for AMNI and reflects our continued commitment to the responsible development of Nigeria’s oil and gas resources.”

He added that the project forms a critical part of AMNI’s long term growth strategy and strengthens the Company’s position as an indigenous energy business with an increasingly diversified portfolio.

That diversification is becoming increasingly important to AMNI’s growth ambitions.

The Company’s Nigerian portfolio currently contains combined resources of more than 60 million barrels of oil and nearly 4 trillion cubic feet of gas, providing a substantial resource base from which to build the next stage of the business.

Ima is a central component of AMNI’s broader Road to 250 KBOE/d strategy, under which the Company is targeting production capacity of approximately 250,000 barrels of oil equivalent per day by 2031. Alongside ongoing activity at the Okoro Field and other planned oil and gas developments, Ima is expected to play a significant role in expanding and diversifying AMNI’s production base.

But the Road to 250 is not simply about adding barrels or molecules.

It is also about whether AMNI can translate its resource base into sustainable production through disciplined capital allocation, safe project execution, strong partnerships and the technical capacity required to deliver increasingly complex developments.

The Ima FID therefore represents an important test and an important statement of intent.

It demonstrates that an indigenous Nigerian operator can progress a billion dollar gas development alongside a major international partner, while maintaining a long term focus on local capability, Nigerian content and responsible resource development.

AMNI says local participation has been embedded in its philosophy since inception, with the Company committed to technical excellence, safety, environmental responsibility and the continued development of Nigerian companies and professionals across the energy value chain.

From decision to delivery

The challenge now shifts from decision to delivery.

Over the coming years, attention will move to engineering, procurement, construction, commissioning and ultimately the first flow of gas expected in 2028. Each stage will bring its own technical and commercial demands.

But the significance of the FID is already clear.

For Nigeria, Ima represents another step toward converting abundant gas resources into productive energy infrastructure and economic value. For the AMNI and TotalEnergies partnership, it opens a new chapter in a relationship that has endured for more than two decades.

And for AMNI, the project moves the Company another step along a larger journey, from the indigenous offshore producer that began operations in the 1990s towards the more diversified energy company it has become.