The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Exploration Licence 5 (PEL5) to SeaSeisGeophysical Limited (SeaSeis) in partnership with TGS to undertake the acquisition and processing of new 3D seismic and gravity data.
The project aims to support more efficient exploration and development of Nigeria’s hydrocarbon resources.
The agreement was officially signed on Tuesday at the NUPRC headquarters in Abuja, marking a significant step in advancing data-driven exploration in Nigeria’s upstream sector, according to a statement on the Commission’s X handle on Wednesday.
What the NUPRC is saying
PEL5, the statement stated, covers a large offshore area in the Eastern Niger Delta and is expected to provide high-resolution geophysical data for future hydrocarbon development.
- The licence area spans 11,700 square kilometres offshore, with water depths ranging from 400 to 2,800 meters.
- The project will involve the acquisition and processing of 3D seismic and gravity data, aimed at improving subsurface understanding.
- NUPRC stated the project will enhance hydrocarbon prospectivity and support more efficient upstream development in line with Section 71(1-10) of the Petroleum Industry Act (PIA) 2021.
The seismic survey is expected to generate data that will facilitate better planning and investment decisions in Nigeria’s offshore oil and gas sector.
More Insights
PEL5 is expected to strengthen the upstream sector by providing high-quality geophysical data and reducing exploration risks.
- The data acquired will inform future licensing rounds, joint ventures, and investment decisions in the Niger Delta.
- By mapping subsurface structures more accurately, the project will help identify new prospects and optimize hydrocarbon recovery.
- The initiative reflects a growing trend of collaboration between Nigerian companies and international partners to leverage advanced seismic and geoscience technology.
NUPRC CEO Oritsemeyiwa Eyesan highlighted the project as evidence of the commission’s commitment to transparency and long-term value creation for Nigeria and the oil and gas sector.
Goke Adeniyi, managing director of SeaSeisGeophysical Limited, described PEL5 as the company’s largest project in Africa, emphasizing the significant opportunities in Nigeria’s offshore hydrocarbon potential.
He noted that the successful execution of PEL5 could attract additional investments, improve hydrocarbon recovery, and solidify Nigeria’s position as a leading oil-producing country in Africa.
The PEL5 initiative underscores NUPRC’s push for data-driven exploration, aligning regulatory oversight with modern seismic acquisition and analysis to unlock Nigeria’s offshore hydrocarbon potential.
What you should know
The project follows recent developments in the Niger Delta, including Chevron Nigeria’s Awodi-07 appraisal well, which revealed significant hydrocarbons in the shallow offshore western Niger Delta.
In 2024, NNPCL and Chevron Nigeria announced they completed transferring five joint venture assets under the Petroleum Industry Act (PIA) enacted in 2021.
The NNPCL also earlier said it signed a $1.4 billion financing agreement for Northern Hydrocarbon Funding Limited.
