The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken a significant step towards boosting oil and gas exploration in Nigeria's offshore basin. The Commission has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited, a move that is expected to enhance geological understanding and improve exploration outcomes in the country's upstream sector.
The agreement allows SeaSeis, in partnership with the Commission and TGS, to carry out the acquisition and processing of new 3D seismic and gravity data. This collaboration is designed to attract further investment while ensuring value generation for the Nigerian government. The three-year deal also empowers the partners to issue data-use licences to interested operators, with revenues to be shared between SeaSeis and the Commission.
The licence, which covers an expansive area of approximately 11,700 square kilometres offshore the Eastern Niger Delta, is expected to unlock new exploration opportunities, strengthen subsurface insights, and support more efficient development of Nigeria's hydrocarbon resources. The project aligns with provisions of the Petroleum Industry Act 2021, particularly Section 71, which governs exploration licensing on non-exclusive acreages.
The official signing ceremony took place on Tuesday, March 24, 2026, at the NUPRC headquarters in Abuja. Speaking at the event, the Commission Chief Executive, Oritsemeyiwa Eyesan, highlighted the importance of credible partnerships in achieving Nigeria's production and reserves growth targets.
||| The signing of the PEL No. 5 agreement between NUPRC and SeaSeisGeophysical Limited is a welcome development that could boost Nigeria's oil and gas exploration efforts. However, it remains to be seen whether this deal will translate into tangible benefits for the Nigerian people, particularly in terms of increased production and job creation. The Commission's commitment to promoting data-driven exploration and transparency is commendable, but it is essential that these efforts are matched with concrete actions to address the sector's numerous challenges. The Petroleum Industry Act 2021 provides a framework for exploration licensing, but its implementation must be monitored closely to ensure that national production goals are met. The Nigerian government must also ensure that the revenue generated from this deal is used to benefit the country and its people.
