Mkpoikana Udoma
Port Harcourt — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has officially signed a Petroleum Exploration Licence, PEL No. 5, with SeaSeis Geophysical Limited, authorising the company, in partnership with TGS, to undertake the acquisition and processing of new 3D seismic and gravity data offshore the Eastern Niger Delta.
The signing ceremony took place yesterday at the NUPRC headquarters in Abuja, marking a significant step in data-driven exploration in Nigeria’s upstream sector.
The PEL5 project spans 11,700 square kilometres, in water depths ranging from 400 to 2,800 metres, and is expected to enhance subsurface understanding, unlock stronger prospectivity, and support more efficient hydrocarbon development in line with Section 71(1-10) of the Petroleum Industry Act, PIA 2021.
Speaking at the signing ceremony, Mrs. Oritsemeyiwa Eyesan, Chief Executive of NUPRC, said: “The issuance of the PEL5 licence reflects the Commission’s continued commitment to data-driven exploration, transparency, and long-term value creation for Nigeria and the oil and gas sector.”
The Managing Director of SeaSeisGeophysical Limited, Mr. Goke Adeniyi, described the project as the company’s largest in Africa, highlighting the scale of opportunity within Nigeria’s upstream sector.
“PEL5 underscores the immense potential of Nigeria’s offshore basins and the role of high-quality seismic data in unlocking new reserves,” he said.
The project is expected to provide critical insights into the Eastern Niger Delta’s subsurface structures, supporting both national energy security and private sector investment in the country’s hydrocarbon resources.
This article was originally posted at sweetcrudereports.com
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