Published on 04-Dec-2024

TotalEnergies Plans to Invest $750M in Nigeria Offshore Gas Project

TotalEnergies Plans to Invest $750M in Nigeria Offshore Gas Project

Sources - @yahoo_finance

TotalEnergies is set to approve a $750 million offshore gas project in Nigeria next year, aimed at boosting the supply to the Nigerian Liquefied Natural Gas (NLNG) plant. The Ima project, developed in shallow waters with a local partner, will enhance the country’s LNG capacity, building on the company’s recent $500 million investment in the Ubeta onshore field.

Mike Sangster, Senior Vice President of Africa, Exploration and Production at TotalEnergies, highlighted the significance of the project at the France-Nigeria business forum, saying, “The Ima project is a crucial step in expanding Nigeria’s LNG supply and supporting the country’s energy infrastructure.”

This development is part of Nigeria’s broader efforts to revive its oil and gas sector, with the government introducing reforms aimed at attracting foreign investment. TotalEnergies also sees potential in the Nigerian market due to recent regulatory changes that provide incentives for deep-water exploration projects.

The project’s execution will drive the need for high-quality inspection and monitoring services, particularly Non-Destructive Testing (NDT), which will be essential in ensuring the integrity and safety of the offshore infrastructure. As Nigeria continues to attract investment, NDT services will play a critical role in supporting the country’s growing energy sector.

Reference: https://worldoil.com/news/2024/12/1/totalenergies-plans-750m-offshore-nigeria-gas-project-to-boost-lng-supply/

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