NUPRC, SeaSeis Seal Landmark PEL5 Agreement
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No 5 agreement with SeaSeisGeophysical Limited (SeaSeis), to boost Nigeria’s offshore exploration.
The agreement authorises the company, in partnership with the commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data.
The official execution of the agreement between SeaSeisGeophysical Limited and its partner, TGS, was held at the commission’s headquarters in Abuja.
The three-year agreement empowers the partnership to issue data-use licences, with revenues to be shared between the company and the commission.
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 of 400-2800 meters.
The licence is expected to unlock stronger prospectivity, enhance subsurface understanding, and support more efficient development of Nigeria’s hydrocarbon resources. This is in line with Section 71(1-10) of the Petroleum Industry Act (PIA) 2021.
The commission’s Chief Executive, Mrs Oritsemeyiwa Eyesan, said the issuance of the licence reflected the ommmission’s continued commitment to data-driven exploration, transparency, and long-term value creation for Nigeria and the oil and gas sector.
Eyesan, in a statement said exploration was fundamentally driven by confidence in data and processes. She said that the PELNo. 5 initiative underscored the importance of credible partnerships in achieving national production and reserve growth targets.
“The PIA recognises that we assign licenses on non-exclusive acreages to contractors who are willing to carry out exploration activity, and as the chief superintendent of the industry.
“We also ensure that we maintain our production targets, including reserves and the only way we can achieve that successfully is if we have partners who are willing to explore,” she said.
The NUPRC boss further said the execution of the PEL No. 5 licence signalled a growing appetite for exploration activities within the sector.
The Managing Director of SeaSeisGeophysical Limited, Mr Goke Adeniyi, described the PEL5 as the company’s largest project in Africa, noting that it underscores the scale of opportunity within Nigeria’s upstream sector.
He further said that the PEL 5 area have been carefully selected, covering approximately 11,700 sq km in the Outer Fold and Thrust Belt of the eastern Niger Delta, Nigeria’s most prolific but geologically complex region.
“Using TGS GeoStreamer dual-sensor tech with long offsets, wide tow and triple-source – broadband acquisition technology.
“We are confident that the resultant High fidelity 3D seismic data will provide operators with the data quality needed to evaluate prospects with greater confidence,” he said. #NUPRC, SeaSeis Seal Landmark PEL5 Agreement#
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