Nigeria authorizes $800M offshore gas project
The Nigerian National Petroleum Corporation announced its approval for an $800 million investment in an offshore gas project being developed by Amoni International and Total Energies. The project is located in the Oil Mining Licenses (OMLs) 112 and 117 areas and is expected to produce around 300 million standard cubic feet of gas daily at peak, to be used in expanding Nigeria’s Liquefied Natural Gas (NLNG) facility, which will increase its capacity from 22 to 30 million tons per year. This investment follows the oil sector reforms approved in 2024, which included financial incentives, simplified contracting procedures, and reduced development costs. It represents a significant step toward strengthening Nigeria’s gas industry.
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