The Nigerian Upstream Petroleum Regulatory Commission has granted Petroleum Exploration Licence 5 to SeaSeisGeophysical Limited, in partnership with TGS, to carry out the acquisition and processing of new 3D seismic and gravity data.
The initiative is designed to enhance the exploration activities and accelerate the development of Nigeria’s hydrocarbon resources.
The agreement was formally signed on Tuesday at the NUPRC headquarters in Abuja, representing a key milestone in promoting data-driven exploration in Nigeria’s upstream sector, the Commission stated on its X account on Wednesday.
According to the statement, PEL5 encompasses a vast offshore area in the Eastern Niger Delta and is expected to deliver high-resolution geophysical data to guide future hydrocarbon development.
The licence covers 11,700 square kilometres offshore, with water depths ranging from 400 to 2,800 meters.
The project will involve acquiring and processing 3D seismic and gravity data to enhance understanding of the subsurface.
The NUPRC said the project will boost hydrocarbon prospectivity and promote more efficient upstream development, in accordance with Section 71(1–10) of the Petroleum Industry Act (PIA) 2021.
The seismic survey is anticipated to produce data that will support improved planning and investment decision-making in Nigeria’s offshore oil and gas sector.
PEL5 is set to strengthen Nigeria’s upstream sector by delivering high-quality geophysical data and mitigating exploration risks.
The acquired data will guide future licensing rounds, joint ventures, and investment decisions across the Niger Delta.
By providing a more accurate map of subsurface structures, the project will help identify new hydrocarbon prospects and optimize recovery.
The initiative underscores the increasing collaboration between Nigerian firms and international partners to harness advanced seismic and geoscience technologies.
NUPRC CEO Oritsemeyiwa Eyesan described the project as a demonstration of the commission’s commitment to transparency and long-term value creation for both Nigeria and the oil and gas industry.
The Managing Director of SeaSeisGeophysical Limited, Goke Adeniyi, called PEL5 the company’s largest project in Africa, highlighting the substantial opportunities presented by Nigeria’s offshore hydrocarbon resources.
The project comes amid recent developments in the Niger Delta, including Chevron Nigeria’s Awodi-07 appraisal well, which confirmed significant hydrocarbon discoveries in the shallow offshore western Niger Delta.
In 2024, NNPCL and Chevron Nigeria reported the completion of the transfer of five joint venture assets under the PIA of 2021.
