NUPRC strikes high-stakes offshore deal to unlock Nigeria’s next oil frontier

By Joycelyn Ellakeche Adah

Nigeria’s drive to ramp up oil exploration has received a major boost as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) signed a landmark Petroleum Exploration Licence (PEL 5) agreement with SeaSeisGeophysical Limited, unlocking a massive offshore data acquisition campaign in the Eastern Niger Delta.

The agreement, executed in partnership with TGS, will see the acquisition and processing of advanced 3D seismic and gravity data across 11,700 square kilometres in deep offshore waters ranging from 400 to 2,800 metres.

The three year deal also empowers the partners to issue data use licences, with revenues to be shared with the Commission.

The project is widely seen as a strategic move to strengthen Nigeria’s subsurface data, reduce exploration risks, and accelerate investment in one of the country’s most geologically complex but resource rich regions.

Speaking at the signing in Abuja, Chief Executive of NUPRC, Oritsemeyiwa Eyesan, said the agreement reflects the Commission’s commitment to transparency, data driven exploration, and sustainable growth in the oil and gas sector.

“The PIA recognises that we assign licenses on non exclusive acreages to contractors who are willing to carry out exploration activity, and as the chief superintendent of the industry.

“We also ensure that we maintain our production targets, including reserves and the only way we can achieve that successfully is if we have partners who are willing to explore,” she said.

Eyesan added that the PEL 5 initiative signals a growing appetite for exploration and highlights the importance of credible partnerships in achieving Nigeria’s production and reserve growth targets under the Petroleum Industry Act 2021.

In his remarks, Managing Director of SeaSeisGeophysical Limited, Goke Adeniyi, described the project as a defining moment for the company and a clear indication of Nigeria’s vast upstream potential.

“We are pleased to be here, not just as SEASEIS but in partnership with TGS,” he said.

Adeniyi noted that the PEL 5 area was carefully selected within the Outer Fold and Thrust Belt of the Eastern Niger Delta, a region known for its prolific reserves but challenging geology.

“Using TGS GeoStreamer dual sensor tech with long offsets, wide tow and triple source broadband acquisition technology, we are confident that the resultant high fidelity 3D seismic data will provide operators with the data quality needed to evaluate prospects with greater confidence,” he said.