ABUJA, Nigeria (VOICE OF NAIJA)-The three-year agreement, signed on Tuesday at the Commission’s headquarters in Abuja, aims to improve subsurface knowledge across an extensive offshore area and deliver high-quality data to guide future exploration and investment decisions.
A statement from the Commission’s Head of Corporate Communications and Media, Eniola Akinkuotu, noted that the project spans approximately 11,700 square kilometres in the offshore Eastern Niger Delta, at water depths ranging from 400 to 2,800 metres.
The statement read, “The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited (SeaSeis), authorising the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data. The three-year agreement also empowers the partnership to issue data-use licences, with revenues to be shared between the company and the Commission.”
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This development highlights the increasing significance of data as the backbone for oil discovery and investment decisions.
The PEL No. 5 seismic data acquisition project covers 11,700 square kilometres offshore in the Eastern Niger Delta, in water depths of 400–2,800 meters.
The licence is anticipated to boost prospectivity, deepen subsurface understanding, and enable more efficient development of Nigeria’s hydrocarbon resources, in accordance with Section 71(1-10) of the Petroleum Industry Act (PIA) 2021.
Speaking at the signing, the Commission Chief Executive, Oritsemeyiwa Eyesan, said the PEL5 licence demonstrates the Commission’s ongoing commitment to data-driven exploration, transparency, and long-term value creation for Nigeria and the oil and gas sector.
Eyesan emphasized that exploration depends heavily on confidence in data and processes, noting that the PELNo. 5 project illustrates the importance of credible partnerships in achieving national production and reserve growth targets.
“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,” the CCE said.
He added that executing the PEL No. 5 licence reflects a growing interest in exploration activities within the sector.
The Managing Director of SeaSeis Geophysical Limited, Goke Adeniyi, described the PEL5 as the company’s largest project in Africa, highlighting the scale of opportunity in Nigeria’s upstream sector.
Adeniyi said, “We are pleased to be here, not just as SEASEIS but in partnership with TGS.”
He added that the PEL 5 area was carefully chosen, covering roughly 11,700 sq km in the Outer Fold & Thrust Belt of the eastern Niger Delta Nigeria’s most prolific yet geologically complex region.
“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 stated.
The targeted acreage in the Outer Fold and Thrust Belt of the eastern Niger Delta represents one of Nigeria’s most promising but technically challenging hydrocarbon zones.
Historically, complex geological structures limited exploration, but advances in seismic technology are improving access.
In recent years, Nigeria has faced challenges in significantly increasing its oil reserves despite being Africa’s largest crude producer.
With mature fields in the Niger Delta, exploration has slowed due to funding gaps, regulatory uncertainty, and technical difficulties in frontier basins.
Global competition for capital has also grown, with investors demanding higher-quality data and lower risks before committing funds.
By offering clearer insights into Nigeria’s complex offshore geology, this initiative is expected to increase prospectivity, reduce investment risks, and ultimately support the country’s long-term production and reserve growth objectives.