Energy major TotalEnergies has announced plans to greenlight a $750 million offshore gas project in 2025.
The Ima shallow water gas project will be developed in partnership with a local Nigerian firm. Gas from the project will be used to boost supply to Nigeria’s LNG facility.
Nigeria aims to attract $10 billion in new investments. With a focus on deepwater gas exploration, the country has introduced tax breaks and fiscal incentives through a new policy framework designed to bolster growth in the sector.
Earlier this year, TotalEnergies approved a $550 million investment in a joint venture with global energy company the Nigerian National Petroleum Corporation to develop the Ubeta onshore field. Set to start production in 2027, the Ubeta field is expected to have a production capacity of 300 million cubic feet of gas per day, which will be supplied to the country’s NLNG plant.
