How fiscal incentives for non-associated gas unlocked Nigeria's $800 million offshore asset

Unlocking a Five-Decade Stranded Asset

TotalEnergies and AMNI International Petroleum Development Company have reached a final investment decision on an $800 million project to extract gas from the offshore Ima field. Dormant for nearly five decades in shallow waters off Bonny Island, the asset is moving toward development because the introduction of targeted fiscal incentives for non-associated gas has rewritten the economic viability of standalone offshore fields in Nigeria.

The development straddles two offshore blocks, OML 112 and OML 117. TotalEnergies operates the venture with a 40 percent stake, while Nigerian independent operator AMNI holds the remaining 60 percent. The operational plan routes production through a single simplified platform connected by a 22-kilometer subsea pipeline directly to the Nigeria LNG export facility on Bonny Island.

First gas delivery is scheduled for 2028, with output expected to plateau at 350 million standard cubic feet per day, representing roughly 60,000 barrels of oil equivalent daily. This volume will supply approximately one-third of the feed gas required for Nigeria LNG's Train 7 expansion project, which aims to elevate total liquefaction output from 22 million to 30 million metric tons annually.

How Fiscal Incentives for Non-Associated