The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeis Geophysical Limited (SeaSeis), authorizing the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data.
The agreement was signed earlier this week at the Commission’s headquarters in Abuja.
The major seismic data acquisition project, PEL No. 5, covers an area of 11,700 square kilometres offshore the eastern Niger Delta, in water depths ranging from 400 to 2,800 meters.
The licence is expected to unlock stronger prospectivity, enhance subsurface understanding, and support more efficient development of Nigeria’s hydrocarbon resources, in line with Section 71 (1–10) of the Petroleum Industry Act (PIA) 2021.
Commenting on the agreement, the Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, said the issuance of the PEL 5 licence reflects the Commission’s continued commitment to data-driven exploration, transparency, and long-term value creation for Nigeria and the oil and gas sector.
In his remarks, the Managing Director of SeaSeis Geophysical Limited, Mr. Goke Adeniyi, described the PEL 5 as the company’s largest project in Africa, noting that it underscores the scale of opportunity within Nigeria’s upstream sector.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.