The Nigerian National Petroleum Company (NNPC) Limited and TotalEnergies are preparing to finalise the final investment decision (FID) for the Ubeta Field Development Project on June 21.

According to a report from Reuters, a source familiar with the situation indicated that this step is pivotal in enhancing Nigeria’s domestic gas supply and economic growth.

Utilising the provisions of the Petroleum Industry Act (PIA) 2021, the decade of gas initiatives, and executive orders issued in March 2024, the source stated that TotalEnergies is committed to investing in the Ubeta Field Development Project to unlock 350 million standard cubic feet per day (MMSCF/D).