TotalEnergies to Add 140,000bpd to Nigeria’s Oil Output on the Back of Tinubu’s Policies

French energy giant TotalEnergies is set to significantly increase Nigeria's oil production, aiming to add 140,000 barrels per day through its Ubeta deepwater and Ima shallow water offshore projects. These ventures are slated for first oil in 2027 and the fourth quarter of 2028, respectively, spurred by investment incentives introduced by President Bola Tinubu's administration in 2023/2024.

Victor Bandele, Deputy Managing Director of TotalEnergies E&P Nigeria Limited, highlighted that these incentives have encouraged the launch of new deepwater gas projects. While specific production capacities were not disclosed, industry sources suggest each project could yield up to 70,000 barrels of oil equivalent per day. The Ubeta field is located offshore Port Harcourt within OML 58, and the Ima Field is part of the AMNI/TotalEnergies Joint Venture, also offshore Port Harcourt.

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I am happy today to speak about projects that have matured because of the shift in processes. We know there were incentives for offshore natural gas, and that was in 2023/2024. So, what did TotalEnergies do? We took the Final Investment Decision (FID) on Ubeta in 2024. The Ubeta project is ongoing as we speak. It is one of the projects with the highest local content, as many Nigerian companies are participating. And Ubeta should be in production next year. So, incentives improved; projects sanctioned and projects will be delivered.

Gas from both projects will serve as feedstock for the Nigeria LNG Limited facility, particularly its Train 7 expansion. This development follows an August 2025 agreement where TotalEnergies and other major operators committed to supplying 1.29 billion cubic feet of gas daily to NLNG. Bandele noted that since the Egina deepwater field came online in 2018, no other deepwater projects had been initiated due to a lack of incentives, underscoring the impact of the recent policy shifts.

TotalEnergies has already made the Final Investment Decision (FID) on the Ubeta project in 2024, which is noted for its high local content involving numerous Nigerian companies. The company is also nearing the FID for the Ima project. Bandele expressed optimism about the trend, stating, "I think that is the trend we are desperate to see in Nigeria. Today, we are working on concluding FID for the Ima project with our partner. The FID is imminent, and first oil is planned for Q4, 2028."

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I think that is the trend we are desperate to see in Nigeria. Today, we are working on concluding FID for the Ima project with our partner. The FID is imminent, and first oil is planned for Q4, 2028.