By Seun Ibiyemi
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited to advance offshore oil exploration and strengthen Nigeria’s hydrocarbon resource base.
The agreement, executed in Abuja, authorises SeaSeis, in partnership with TGS, to acquire and process new 3D seismic and gravity data across a designated offshore area.
Under the three-year arrangement, the partnership will also issue data-use licences, with revenues shared between the company and the commission.
The PEL No. 5 project spans approximately 11,700 square kilometres offshore the Eastern Niger Delta, covering water depths ranging from 400 to 2,800 metres.
The initiative is expected to improve subsurface understanding, enhance prospectivity, and support more efficient development of Nigeria’s oil and gas resources.
The licence was issued in line with provisions of the Petroleum Industry Act 2021, which promotes data-driven exploration and encourages investment in the upstream sector.
Speaking on the development, NUPRC Chief Executive, Oritsemeyiwa Eyesan, said the agreement reflects the commission’s commitment to transparency, innovation, and long-term value creation in the industry.
She emphasised that exploration activities are driven by reliable data and strong partnerships, noting that the initiative aligns with Nigeria’s goal of boosting reserves and sustaining production levels.
“The PIA recognises that we assign licences on non-exclusive acreages to contractors willing to undertake exploration activities. Achieving our production and reserve targets depends on having capable partners committed to exploration,” she said.
Eyesan added that the execution of the PEL No. 5 agreement signals renewed investor interest and a growing appetite for exploration in Nigeria’s upstream sector.
Also speaking, Managing Director of SeaSeisGeophysical Limited, Goke Adeniyi, described the project as the company’s largest in Africa, highlighting the vast opportunities within Nigeria’s oil and gas industry.
He noted that the PEL 5 area, located within the Outer Fold and Thrust Belt of the Eastern Niger Delta, is both prolific and geologically complex, requiring advanced technology for effective exploration.
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According to him, the deployment of TGS GeoStreamer dual-sensor broadband acquisition technology will deliver high-quality 3D seismic data, enabling operators to evaluate prospects with greater accuracy and confidence.
The agreement marks a significant step in Nigeria’s efforts to unlock new reserves and reinforce its position as a key player in the global energy market.
