The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has signed a Petroleum Exploration Licence, PEL Five agreement with SeaSeisGeophysical ltd, in partnership with global data firm TGS.
The agreement authorises the acquisition and processing of new three-dimensional seismic and gravity data across 11,700 square kilometres offshore area in the Eastern Niger Delta.
The project, which spans water depths of 400 to 2800 metres, is expected to run for three years in a bid to strengthen oil exploration and unlock new hydrocarbon prospects in the region.
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Speaking at the signing ceremony in Abuja, the Commission’s Chief Executive, Oritsemeyiwa Eyesan, says the initiative reflects a strong commitment to data-driven exploration, transparency, and long-term value creation for Nigeria’s oil and gas sector.
The Managing Director, SeaSeisGeophysical, Goke Adeniyi, noted that the project highlights Nigeria’s vast upstream potential despite the complex geology of the region.
The PEL Five licence is expected to enhance subsurface understanding and support more efficient development of Nigeria’s hydrocarbon resources in line with the Petroleum Industry Act.
(Editor: Ebuwa Omo-Osagie)
