The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has urged oil and gas companies to shorten the period required to reach Final Investment Decisions on projects, saying Nigeria needs to move more quickly from discoveries to actual production.
Lokpobiri made the call on Wednesday in Abuja at the Final Investment Decision signing ceremony for the Ima Gas Project, jointly developed by Nigerian independent AMNI International and TotalEnergies.
His appeal comes as the $800m Ima project moves into development more than five decades after the gas field was discovered in 1973.
The project, located on OMLs 112 and 117 offshore near Bonny Island, Rivers State, is expected to commence production in 2028. TotalEnergies, which operates the project with a 40 per cent interest, said the field would reach a plateau of 350 million standard cubic feet of gas per day and supply about one-third of the gas required for
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