TotalEnergies is expected to add about 140,000 barrels of oil equivalent per day to Nigeria’s production as two projects move towards start-up between 2027 and 2028.

The company’s Deputy Managing Director, Deepwater Assets, Victor Bandele, said the Ubeta and Ima projects had progressed following investment incentives introduced by the Federal Government in 2023 and 2024.

Speaking at the Nigeria Annual International Conference and Exhibition in Lagos, Bandele said TotalEnergies took the final investment decision on Ubeta in 2024, with production expected to begin in 2027.

He added that the company was working with its partner to conclude the final investment decision on the Ima project, which is expected to deliver first oil in the fourth quarter of 2028.

Industry sources estimate that each project could produce up to 70,000 barrels of oil equivalent per day, although TotalEnergies has not officially disclosed their production capacities.

Ubeta is located in OML 58, about 80 kilometres offshore Port Harcourt, while Ima is an offshore field operated through the AMNI/TotalEnergies joint venture.

The projects are expected to increase gas supplies to Nigeria LNG, with their output providing feedstock for the facility at Bonny Island. NLNG’s Train 7 project is currently under construction.

Bandele said the incentives had helped revive investments in offshore gas projects after the industry recorded limited deepwater project development following the start-up of the Egina field in 2018.

He said the experience showed that appropriate government policies could encourage operators to take investment decisions and bring new projects into production.

Meanwhile, refined petroleum products have overtaken crude oil as the largest category of Nigerian goods imported by the United Kingdom.

According to the UK Department for Business and Trade’s latest Nigeria Trade and Investment Factsheet, Britain imported £674.5 million worth of refined petroleum products from Nigeria in the 12 months to March 2026.

The figure represented 47.5 per cent of the UK’s total goods imports from Nigeria and exceeded crude oil imports valued at £438.9 million.

Crude oil accounted for 30.9 per cent of British goods imports from Nigeria, while natural gas ranked third at £179.3 million, representing 12.6 per cent.

UK crude oil imports from Nigeria fell by 64.3 per cent compared with the previous 12-month period, while natural gas imports increased by 6.9 per cent.

Other major Nigerian exports to Britain included coffee, tea and cocoa products worth £29.3 million and processed fertilisers valued at £25.2 million.

Despite the rise in refined petroleum product exports, total UK-Nigeria trade in goods and services declined by 3.4 per cent to £7.3 billion in the four quarters to March 2026.

UK exports to Nigeria fell slightly to £5.3 billion, while imports from Nigeria dropped by 9.3 per cent to £2 billion.

The development comes as Nigeria seeks to attract more investment into its oil and gas sector and increase production through new offshore and gas projects.