TotalEnergies and AMNI Take FID on Nigeria's Ima Offshore Gas Field
The final investment decision on Ima unlocks development across OML 112 and 117, adding to Nigeria's push to monetise its 200 trillion cubic feet of proven gas reserves.
TotalEnergies and its Nigerian partner AMNI have taken the final investment decision on the Ima gas field, clearing the way for development of an offshore asset that straddles the OML 112 and 117 licenses. TotalEnergies holds a 40% operating interest; AMNI controls the remaining 60%.1
The decision lands as Nigeria tries to attract fresh capital into upstream gas at a moment when the country's production picture is uneven. Meren Inc, a separate producer active in Nigerian waters, reported in August 2026 that H1 2026 working-interest and entitlement volumes fell from 31,400 boed and 36,100 boed respectively, even as output from the Agbami field climbed to its highest level since a maintenance programme in the fourth quarter of 2025. Declining headline figures alongside a recovering flagship asset suggest the country's production base remains patchy outside its largest fields.2
Nigeria holds 200 trillion cubic feet of proven gas reserves but has historically struggled to convert that resource into reliable supply. Monetisation has been hampered by infrastructure gaps, flaring, and the slow pace of final investment decisions. The Ima FID represents one concrete step against that backdrop — though how quickly the field moves from sanction to first gas will depend on execution, not on the announcement itself.1
The project is not the only gas development vying for attention in Nigerian waters. UTM Offshore signed a Gas Sales Agreement with Seplat Energy and the Nigerian National Petroleum Company in July 2026 (2026-07-08), targeting Nigeria's first indigenous-led floating liquefied natural gas project. Situated in the deepwater Yoho field, that FLNG development is expected to produce 176 million cubic feet per day once operational. Multiple projects competing for contractor capacity, financing, and regulatory bandwidth is a real risk for any single project's schedule.1
Nigeria's stated ambition is to become a gas-powered economy by 2030, using project activity to reduce flaring and improve domestic energy access. That is a political objective as much as a commercial one, and it shapes the regulatory environment in which TotalEnergies is operating. Whether the government's priorities align with the pace that international operators require to generate acceptable returns on offshore gas development remains an open and live question for the sector.1
ICE Brent crude front-month was trading at $100.61 per barrel as of Wednesday (2026-09-23), providing a supportive price environment for companies weighing capital commitments in deepwater Africa. But oil-linked returns matter less for a gas development than the terms governing domestic gas sales or any LNG offtake arrangements attached to Ima. The packet does not disclose those terms.
TotalEnergies has been active across multiple FID processes in 2026. The Papua LNG project in Papua New Guinea achieved major contractual and commercial milestones in early September 2026 (2026-09-08), completing its EPC tendering process with contract award recommendations ready for co-venturers. Papua LNG carries an estimated price tag of $14 billion and has benefited from close to $4 billion in cost savings since 2024. The Ima FID is a smaller-scale decision by comparison, though the source material does not disclose a project cost figure for the Nigerian field.3,46
TotalEnergies has also been reshaping its African portfolio through asset swaps. In September 2026, the company completed a transaction acquiring a 40% operating stake in the Namibian block containing the Mopane discoveries from Galp, in exchange for Galp receiving a 10% interest in the Venus discovery. The Ima FID and the Mopane acquisition together indicate a continued appetite for upstream gas and oil positions across sub-Saharan Africa, even as the company pursues large-scale renewables elsewhere.5
The nearer-term watch on Ima is whether AMNI's 60% position — a majority stake held by a local partner — affects the development timeline. AMNI's financing capacity and operational track record are not detailed in available information, and local partner dynamics have historically influenced execution pace on Nigerian offshore projects. The structure of the partnership, with TotalEnergies as operator but holding a minority interest, is worth monitoring as the project moves from FID into engineering and procurement.1