$550 Million Upstream Gas Project Between NNPC Ltd. and TotalEnergies Takes Off
The Nigerian government has announced the official commencement of the $550 million upstream gas project between NNPC Ltd. and TotalEnergies for the development of the Ubeta field. This project marks a significant milestone in Nigeria’s efforts to expand its gas infrastructure and energy production capabilities.
The announcement was made by the Special Adviser to the President on Energy, Olu Verheijen, during the inaugural U.S.-Nigeria Strategic Energy Dialogue held in Washington, DC. The dialogue focused on deepening energy cooperation between the two nations, with the Ubeta project taking center stage as an example of Nigeria’s ongoing commitment to energy development and sustainability.
According to Olufemi Soneye, Chief Corporate Communications Officer at NNPC Ltd., the Final Investment Decision (FID) for the Ubeta Field Development Project was signed in Abuja in June 2024. The field, located northwest of Port Harcourt in Rivers State, was initially discovered in 1964, and this project is aimed at harnessing the gas reserves to boost Nigeria’s gas production.
The Ubeta gas field is seen as a key component in Nigeria’s strategy to reduce its dependency on oil and shift towards a more gas-focused energy sector. This aligns with Nigeria’s ambition to become a leading player in global gas production, leveraging its vast reserves for both domestic use and export markets.
The partnership with TotalEnergies is also expected to enhance technological expertise and boost employment in the region, providing economic opportunities for local communities while ensuring a steady supply of energy for both local consumption and export.
This project is part of broader efforts by Nigeria to attract foreign investment into its oil and gas sectors, even as the country continues to grapple with challenges such as infrastructure development and energy transition.
