On Friday, multiple sources, including the News Agency of Nigeria, Yahoo Finance, Tribune Online, Business Post Nigeria, and encomium.ng, reported that French oil major TotalEnergies and Nigerian oil company AMNI International Petroleum Development Company (AMNI) have taken a Final Investment Decision (FID) on the IMA Gas Field offshore Nigeria. According to sources, the FID marks the start of production at the gas field, which is expected to produce 350 million cubic feet per day (mcf/d). The $800 million project is seen as a significant boost for Nigeria’s gas sector and could help address the country’s gas supply challenges. President Tinubu hailed the FID as a step towards unlocking a five-decade-old gas resource in Nigeria, which has been estimated to contain over 1 trillion cubic feet of recoverable gas reserves. AMNI did not respond to requests for comment on the report.
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