Total Energies Gets go Ahead For $750m Gas Project in Nigeria Following Earlier $500M Pledge to NNPC

“We have another dry gas project called Ima, which we hope to sanction next year for about $750 million,” he said.

The shallow-water project, developed in partnership with a local firm, aims to further enhance gas supply to the Liquefied Natural Gas (LNG) facility.

Earlier Pledge to NNPC

Earlier this year, TotalEnergies pledged around $500 million to a joint venture with the state-owned Nigerian National Petroleum Company (NNPC) Limited to develop the Ubeta onshore field.

With an expected output of 300 million cubic feet per day, this project is set to strengthen the gas supply to the Nigerian Liquefied Natural Gas (NLNG) plant.

Speaking on further cooperation with Nigeria, Sangster said, “There’s still more to be done in terms of regulation, simplifying, and accelerating the process, but we have appreciated some of the changes that have been made over the past year.

“They have given us now the incentive or the motivation to go ahead and renew our investments in Nigeria so that we can stop the decline and start to increase production.”

Sangster advocated for a further easing of local content regulations to attract international contractors with expertise in deep-water projects back to Nigeria, noting that this would foster competition and revive investments that have been suspended.